NIC Inc. (NASDAQ:EGOV) Receives Consensus Rating of “Hold” from Brokerages

NIC Inc. (NASDAQ:EGOV) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.67.

Several equities analysts have recently commented on EGOV shares. BidaskClub downgraded NIC from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. DA Davidson restated a “neutral” rating on shares of NIC in a research report on Monday, April 29th. Loop Capital upgraded NIC from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Barrington Research set a $26.00 price objective on NIC and gave the company a “buy” rating in a research report on Thursday.

NASDAQ:EGOV traded up $0.13 during mid-day trading on Monday, hitting $16.18. 1,610 shares of the company traded hands, compared to its average volume of 290,549. NIC has a one year low of $11.76 and a one year high of $18.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market capitalization of $1.07 billion, a PE ratio of 18.32, a P/E/G ratio of 2.20 and a beta of 0.99.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. NIC had a return on equity of 26.73% and a net margin of 15.80%. The business had revenue of $85.20 million during the quarter, compared to analyst estimates of $82.07 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. NIC’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts forecast that NIC will post 0.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 11th will be given a $0.08 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.98%. NIC’s payout ratio is 36.36%.

In other news, CFO Stephen M. Kovzan sold 35,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $16.04, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 230,691 shares in the company, valued at $3,700,283.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund purchased a new stake in shares of NIC in the fourth quarter worth about $25,000. Parallel Advisors LLC purchased a new stake in shares of NIC in the first quarter worth about $25,000. Royce & Associates LP purchased a new stake in shares of NIC in the fourth quarter worth about $26,000. Investors Research Corp purchased a new stake in shares of NIC in the first quarter worth about $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of NIC by 45.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,965 shares of the software maker’s stock worth $62,000 after buying an additional 1,543 shares in the last quarter. Institutional investors own 87.00% 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.

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