DA Davidson reaffirmed their neutral rating on shares of NIC Inc. (NASDAQ:EGOV) in a research note published on Wednesday morning. The brokerage currently has a $18.00 target price on the software maker’s stock.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut NIC from a buy rating to a hold rating in a research report on Monday, July 3rd. BidaskClub cut NIC from a sell rating to a strong sell rating in a research report on Friday, June 30th. TheStreet cut NIC from a b- rating to a c+ rating in a research report on Monday, August 14th. Maxim Group decreased their target price on NIC from $21.00 to $16.00 and set a hold rating on the stock in a research report on Friday, July 21st. Finally, Sidoti cut NIC from a buy rating to a neutral rating and set a $19.00 target price on the stock. in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.71.
Shares of NIC (NASDAQ:EGOV) opened at 17.00 on Wednesday. NIC has a one year low of $15.45 and a one year high of $25.90. The firm’s 50-day moving average is $16.32 and its 200-day moving average is $19.07. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 20.00 and a beta of 0.40.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that NIC will post $0.74 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, September 1st. NIC’s dividend payout ratio (DPR) is currently 38.10%.
Large investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. grew its holdings in shares of NIC by 350.0% during the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after purchasing an additional 4,200 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of NIC during the first quarter worth about $111,000. SG Americas Securities LLC grew its holdings in shares of NIC by 7.6% during the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after purchasing an additional 482 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of NIC during the second quarter worth about $153,000. Finally, Pinebridge Investments L.P. grew its holdings in shares of NIC by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 92.93% of the company’s stock.
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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