BidaskClub lowered shares of NIC (NASDAQ:EGOV) from a hold rating to a sell rating in a report released on Friday, December 29th.
EGOV has been the subject of several other reports. DA Davidson reaffirmed a neutral rating and issued a $18.00 price objective on shares of NIC in a research report on Wednesday, September 20th. Zacks Investment Research lowered shares of NIC from a buy rating to a hold rating in a research report on Monday, October 9th. Finally, Maxim Group reaffirmed a hold rating and issued a $16.00 price objective on shares of NIC in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. NIC currently has an average rating of Hold and an average price target of $19.43.
Shares of NIC (NASDAQ EGOV) opened at $17.45 on Friday. NIC has a one year low of $15.45 and a one year high of $25.70. The firm has a market cap of $1,156.39, a PE ratio of 21.54, a P/E/G ratio of 2.21 and a beta of 0.38.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $84.53 million during the quarter, compared to analyst estimates of $83.55 million. NIC had a net margin of 16.42% and a return on equity of 36.89%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. analysts predict that NIC will post 0.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.83%. NIC’s payout ratio is 39.51%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of NIC by 36.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 81,646 shares of the software maker’s stock worth $1,547,000 after purchasing an additional 21,612 shares during the period. Bank of New York Mellon Corp grew its stake in NIC by 53.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock valued at $25,604,000 after acquiring an additional 470,181 shares during the period. U S Global Investors Inc. acquired a new stake in NIC in the 2nd quarter valued at $472,000. Financial Counselors Inc. grew its stake in NIC by 3.2% in the 2nd quarter. Financial Counselors Inc. now owns 689,992 shares of the software maker’s stock valued at $13,075,000 after acquiring an additional 21,084 shares during the period. Finally, OxFORD Asset Management LLP grew its stake in NIC by 195.2% in the 2nd quarter. OxFORD Asset Management LLP now owns 40,742 shares of the software maker’s stock valued at $772,000 after acquiring an additional 26,942 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.
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NIC Inc is a provider of digital government services that help governments use technology to provide services to businesses and citizens. The Company operates through Outsourced Portals segment. The Company offers its services through two channels: primary outsourced portal businesses, and software and services businesses.
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