NIC Inc. (EGOV) Receives Average Rating of “Hold” from Brokerages

NIC Inc. (NASDAQ:EGOV) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.00.

A number of research analysts have commented on the company. BidaskClub raised NIC from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. ValuEngine cut NIC from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Loop Capital set a $15.00 price target on NIC and gave the stock a “hold” rating in a research report on Monday. Barrington Research reiterated a “hold” rating on shares of NIC in a research report on Monday. Finally, TheStreet cut NIC from a “b-” rating to a “c+” rating in a research report on Monday, October 1st.

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of NIC by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 160,935 shares of the software maker’s stock worth $2,503,000 after purchasing an additional 3,880 shares during the period. BlackRock Inc. increased its position in NIC by 4.2% in the 2nd quarter. BlackRock Inc. now owns 9,754,378 shares of the software maker’s stock valued at $151,681,000 after acquiring an additional 396,537 shares during the period. Bridges Investment Management Inc. increased its position in NIC by 2.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 243,224 shares of the software maker’s stock valued at $3,782,000 after acquiring an additional 4,683 shares during the period. Vident Investment Advisory LLC increased its position in NIC by 21.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 57,997 shares of the software maker’s stock valued at $902,000 after acquiring an additional 10,424 shares during the period. Finally, Aperio Group LLC increased its position in NIC by 15.3% in the 2nd quarter. Aperio Group LLC now owns 35,609 shares of the software maker’s stock valued at $554,000 after acquiring an additional 4,719 shares during the period. Institutional investors and hedge funds own 87.80% of the company’s stock.

Shares of EGOV stock traded down $0.02 during trading hours on Friday, reaching $13.79. The company had a trading volume of 9,390 shares, compared to its average volume of 412,590. NIC has a twelve month low of $12.65 and a twelve month high of $18.90. The firm has a market cap of $899.35 million, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.60 and a beta of 0.71.

NIC (NASDAQ:EGOV) last posted its earnings results on Thursday, November 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. NIC had a return on equity of 32.21% and a net margin of 16.94%. The business had revenue of $87.03 million during the quarter, compared to analyst estimates of $83.06 million. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that NIC will post 0.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, December 4th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, December 3rd. NIC’s payout ratio is 41.56%.

NIC Company Profile

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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