NIC Inc. (NASDAQ:EGOV) Director William M. Lyons sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $20.96, for a total transaction of $209,600.00. Following the completion of the sale, the director now directly owns 61,786 shares in the company, valued at $1,295,034.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of EGOV stock traded down $0.58 during trading hours on Friday, hitting $20.67. 7,410 shares of the company’s stock were exchanged, compared to its average volume of 345,107. The company has a market capitalization of $1.40 billion, a PE ratio of 23.53, a PEG ratio of 2.89 and a beta of 0.90. NIC Inc. has a 12-month low of $11.76 and a 12-month high of $23.45. The business’s 50 day simple moving average is $19.93 and its 200-day simple moving average is $17.49. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.04.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $91.60 million for the quarter, compared to the consensus estimate of $86.45 million. NIC had a net margin of 15.10% and a return on equity of 24.45%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Equities analysts anticipate that NIC Inc. will post 0.73 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC purchased a new position in shares of NIC in the first quarter worth $25,000. Advisors Preferred LLC purchased a new position in shares of NIC in the second quarter worth $26,000. NumerixS Investment Technologies Inc increased its stake in shares of NIC by 477.8% in the first quarter. NumerixS Investment Technologies Inc now owns 5,200 shares of the software maker’s stock worth $88,000 after buying an additional 4,300 shares during the period. Taylor Hoffman Wealth Management purchased a new position in shares of NIC in the second quarter worth $157,000. Finally, UMB Bank N A MO purchased a new position in shares of NIC in the second quarter worth $162,000. 87.16% of the stock is currently owned by institutional investors.
EGOV has been the topic of a number of recent analyst reports. DA Davidson raised shares of NIC from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $21.00 in a research note on Thursday, August 1st. BidaskClub raised shares of NIC from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. TheStreet raised shares of NIC from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. ValuEngine downgraded shares of NIC from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barrington Research reaffirmed a “buy” rating on shares of NIC in a research note on Wednesday, July 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.25.
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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