NIC (NASDAQ:EGOV) had its price target increased by analysts at Loop Capital to $16.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “hold” rating on the software maker’s stock. Loop Capital’s price objective would suggest a potential downside of 2.14% from the company’s previous close.
A number of other analysts have also recently issued reports on EGOV. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research note on Friday, December 7th. BidaskClub cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Barrington Research upgraded shares of NIC from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a research note on Thursday. Finally, ValuEngine upgraded shares of NIC from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. NIC presently has a consensus rating of “Hold” and an average price target of $18.75.
NASDAQ EGOV traded up $2.19 during trading on Thursday, reaching $16.35. The company’s stock had a trading volume of 140,222 shares, compared to its average volume of 316,187. The stock has a market capitalization of $939.29 million, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. NIC has a 1-year low of $11.76 and a 1-year high of $17.45.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of NIC in the fourth quarter worth $79,000. Pacer Advisors Inc. lifted its stake in shares of NIC by 156.6% in the third quarter. Pacer Advisors Inc. now owns 8,622 shares of the software maker’s stock worth $128,000 after buying an additional 5,262 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of NIC in the fourth quarter worth $138,000. Finally, Jane Street Group LLC acquired a new stake in shares of NIC in the third quarter worth $174,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.
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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