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TheStreet Wire

NIC Reaches New 52-Week High (EGOV)

By TheStreet Wire 10/26/11 - 12:59 PM EDT

Find out if (EGOV) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- NIC (Nasdaq:EGOV) hit a new 52-week high Wednesday as it is currently trading at $13.87, above its previous 52-week high of $13.80 with 179,330 shares traded as of 12:35 p.m. ET. Average volume has been 284,000 shares over the past 30 days.

NIC has a market cap of $860.3 million and is part of the technology sector and computer software & services industry. Shares are up 38.4% year to date as of the close of trading on Tuesday.

NIC Inc. provides eGovernment services that enable governments use the Internet to provide various services to businesses and citizens in the United States. It operates in two segments, Portal Outsourcing, and Software and Services. The company has a P/E ratio of 40.7, above the average computer software & services industry P/E ratio of 39.5 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates NIC as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and revenue growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full NIC Ratings Report.

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