NIC (EGOV) Receives “Hold” Rating from Barrington Research

Barrington Research reissued their hold rating on shares of NIC (NASDAQ:EGOV) in a report released on Monday morning.

EGOV has been the topic of several other research reports. BidaskClub raised NIC from a sell rating to a hold rating in a research report on Saturday, October 13th. ValuEngine lowered NIC from a hold rating to a sell rating in a report on Thursday, September 6th. TheStreet lowered NIC from a b- rating to a c+ rating in a report on Monday, October 1st. Stephens reiterated a hold rating and set a $18.00 price target on shares of NIC in a report on Thursday, August 2nd. Finally, Loop Capital lifted their price target on NIC to $17.00 and gave the stock a hold rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $17.75.

NIC stock traded up $0.11 during mid-day trading on Monday, reaching $13.65. The stock had a trading volume of 11,222 shares, compared to its average volume of 328,443. NIC has a fifty-two week low of $12.65 and a fifty-two week high of $18.90. The stock has a market capitalization of $890.57 million, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.69 and a beta of 0.68.

NIC (NASDAQ:EGOV) last announced its earnings results on Thursday, November 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.07. The company had revenue of $87.03 million for the quarter, compared to analysts’ expectations of $83.06 million. NIC had a return on equity of 33.16% and a net margin of 16.52%. NIC’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. As a group, analysts expect that NIC will post 0.79 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of EGOV. Janus Henderson Group PLC bought a new stake in shares of NIC in the second quarter valued at $158,000. Amalgamated Bank bought a new stake in shares of NIC in the second quarter valued at $163,000. Xact Kapitalforvaltning AB bought a new stake in shares of NIC in the first quarter valued at $168,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of NIC in the second quarter valued at $189,000. Finally, GW Henssler & Associates Ltd. bought a new stake in shares of NIC in the second quarter valued at $191,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

About NIC

NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.

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