NIC (EGOV) Lowered to “Hold” at BidaskClub

BidaskClub lowered shares of NIC (NASDAQ:EGOV) from a buy rating to a hold rating in a report released on Thursday morning.

EGOV has been the subject of several other reports. Barrington Research upgraded NIC from a market perform rating to an outperform rating and set a $26.00 price target for the company in a report on Thursday, January 31st. ValuEngine upgraded NIC from a sell rating to a hold rating in a report on Thursday, January 31st. Loop Capital set a $13.00 price target on NIC and gave the company a hold rating in a report on Monday, December 10th. Finally, Zacks Investment Research downgraded NIC from a hold rating to a sell rating in a report on Thursday, January 31st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. NIC has a consensus rating of Hold and an average price target of $19.75.

EGOV stock opened at $17.01 on Thursday. The firm has a market cap of $1.13 billion, a PE ratio of 19.33, a PEG ratio of 2.27 and a beta of 0.97. NIC has a 52 week low of $11.76 and a 52 week high of $17.55.

NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, January 30th. The software maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $78.65 million during the quarter, compared to the consensus estimate of $74.44 million. NIC had a return on equity of 29.79% and a net margin of 16.89%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS. Research analysts predict that NIC will post 0.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $0.32 annualized dividend and a yield of 1.88%. NIC’s dividend payout ratio is currently 36.36%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund acquired a new stake in NIC in the 4th quarter valued at $25,000. Royce & Associates LP acquired a new stake in NIC in the 4th quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NIC by 45.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,965 shares of the software maker’s stock valued at $62,000 after purchasing an additional 1,543 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in NIC in the 4th quarter valued at $79,000. Finally, Pacer Advisors Inc. increased its holdings in NIC by 156.6% in the 3rd quarter. Pacer Advisors Inc. now owns 8,622 shares of the software maker’s stock valued at $128,000 after purchasing an additional 5,262 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.

Recommended Story: Dividend Achievers

Receive News & Ratings for NIC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC and related companies with MarketBeat.com's FREE daily email newsletter.