NIC’s (EGOV) Neutral Rating Reaffirmed at DA Davidson

DA Davidson restated their neutral rating on shares of NIC Inc. (NASDAQ:EGOV) in a research report sent to investors on Wednesday. DA Davidson currently has a $18.00 price objective on the software maker’s stock.

A number of other equities analysts have also weighed in on EGOV. BidaskClub lowered NIC from a sell rating to a strong sell rating in a research note on Friday, June 30th. Zacks Investment Research lowered NIC from a buy rating to a hold rating in a research note on Monday, July 3rd. Imperial Capital raised NIC from an in-line rating to an outperform rating and set a $23.00 price objective for the company in a research note on Monday, July 17th. Maxim Group dropped their price objective on NIC from $21.00 to $16.00 and set a hold rating for the company in a research note on Friday, July 21st. Finally, Sidoti lowered NIC from a buy rating to a neutral rating and set a $19.00 price objective for the company. in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. NIC presently has a consensus rating of Hold and an average target price of $19.71.

NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share.

ILLEGAL ACTIVITY WARNING: “NIC’s (EGOV) Neutral Rating Reaffirmed at DA Davidson” was first posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.truebluetribune.com/2017/09/21/nics-egov-neutral-rating-reaffirmed-at-da-davidson.html.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, September 1st. NIC’s dividend payout ratio (DPR) is 38.10%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in NIC by 183.5% during the first quarter. Russell Investments Group Ltd. now owns 164,953 shares of the software maker’s stock valued at $3,332,000 after buying an additional 106,774 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in NIC by 7.7% during the first quarter. Great West Life Assurance Co. Can now owns 89,102 shares of the software maker’s stock valued at $1,795,000 after buying an additional 6,354 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in NIC by 595.1% during the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the last quarter. American Century Companies Inc. boosted its stake in NIC by 10.5% during the first quarter. American Century Companies Inc. now owns 41,047 shares of the software maker’s stock valued at $829,000 after buying an additional 3,915 shares during the last quarter. Finally, US Bancorp DE boosted its stake in NIC by 25.2% during the first quarter. US Bancorp DE now owns 14,391 shares of the software maker’s stock valued at $290,000 after buying an additional 2,900 shares during the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.

About NIC

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.

Analyst Recommendations for NIC (NASDAQ:EGOV)

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

Latest News

Leave a Reply