NIC’s (EGOV) Hold Rating Reaffirmed at Barrington Research

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Barrington Research restated their hold rating on shares of NIC (NASDAQ:EGOV) in a research note released on Monday.

EGOV has been the subject of a number of other reports. BidaskClub raised shares of NIC from a sell rating to a hold rating in a report on Saturday, October 13th. TheStreet raised shares of NIC from a c+ rating to a b- rating in a report on Wednesday, August 22nd. Loop Capital set a $15.00 target price on shares of NIC and gave the company a hold rating in a report on Monday. ValuEngine raised shares of NIC from a strong sell rating to a sell rating in a report on Saturday, October 6th. Finally, Stephens reaffirmed a hold rating and issued a $18.00 target price on shares of NIC in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $17.67.

NASDAQ EGOV traded down $0.01 during trading hours on Monday, hitting $13.45. 12,171 shares of the stock were exchanged, compared to its average volume of 373,237. The stock has a market capitalization of $931.84 million, a P/E ratio of 17.49, a P/E/G ratio of 1.74 and a beta of 0.71. NIC has a 12-month low of $12.65 and a 12-month high of $18.90.

NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Thursday, November 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.07. The firm had revenue of $87.03 million during the quarter, compared to analysts’ expectations of $83.06 million. NIC had a net margin of 16.94% and a return on equity of 32.21%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, equities research analysts predict that NIC will post 0.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, December 4th will be issued a $0.08 dividend. The ex-dividend date is Monday, December 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.38%. NIC’s dividend payout ratio (DPR) is presently 41.56%.

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC purchased a new position in NIC in the second quarter valued at about $158,000. Amalgamated Bank purchased a new position in shares of NIC during the 2nd quarter worth approximately $163,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of NIC during the 2nd quarter worth approximately $189,000. GW Henssler & Associates Ltd. purchased a new position in shares of NIC during the 2nd quarter worth approximately $191,000. Finally, Verition Fund Management LLC purchased a new position in shares of NIC during the 2nd quarter worth approximately $192,000. 87.80% of the stock is owned by institutional investors.

About NIC

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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