Maxim Group restated their hold rating on shares of NIC Inc. (NASDAQ:EGOV) in a report issued on Thursday, November 2nd. The brokerage currently has a $16.00 target price on the software maker’s stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of NIC from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Tuesday, July 18th. Imperial Capital raised shares of NIC from an in-line rating to an outperform rating and set a $23.00 price objective for the company in a research note on Monday, July 17th. Sidoti downgraded shares of NIC from a buy rating to a neutral rating and set a $19.00 price target for the company. in a research note on Friday, July 21st. DA Davidson reiterated a neutral rating and issued a $18.00 price target on shares of NIC in a research note on Wednesday, September 20th. Finally, BidaskClub raised shares of NIC from a strong sell rating to a sell rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $19.29.
NIC (NASDAQ EGOV) opened at $16.75 on Thursday. The stock has a market cap of $1,076.87, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. NIC has a twelve month low of $15.45 and a twelve month high of $25.90.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 16.42% and a return on equity of 36.89%. The firm had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. During the same period last year, the business earned $0.24 earnings per share. NIC’s revenue was up 5.2% compared to the same quarter last year. analysts predict that NIC will post 0.78 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, December 4th. NIC’s dividend payout ratio is currently 39.51%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC increased its position in NIC by 75.4% during the 3rd quarter. Highbridge Capital Management LLC now owns 23,262 shares of the software maker’s stock worth $399,000 after purchasing an additional 10,001 shares in the last quarter. U S Global Investors Inc. increased its position in NIC by 96.3% during the 3rd quarter. U S Global Investors Inc. now owns 48,911 shares of the software maker’s stock worth $839,000 after purchasing an additional 24,000 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in NIC during the 3rd quarter worth approximately $328,000. Engineers Gate Manager LP acquired a new stake in NIC during the 3rd quarter worth approximately $901,000. Finally, Convergence Investment Partners LLC purchased a new position in NIC in the 3rd quarter worth approximately $1,684,000. 89.96% of the stock is owned by hedge funds and other institutional investors.
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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