Wall Street analysts forecast that NIC Inc. (NASDAQ:EGOV) will post $0.18 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for NIC’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.19. NIC reported earnings of $0.24 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The business is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that NIC will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.76. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.79 per share, with EPS estimates ranging from $0.77 to $0.81. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow NIC.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a return on equity of 34.45% and a net margin of 14.96%. The business had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis.
Several research firms have recently weighed in on EGOV. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, May 4th. BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. DA Davidson initiated coverage on NIC in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price for the company. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research report on Monday. Finally, Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.
In related news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares in the company, valued at $4,025,681.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new position in NIC during the second quarter valued at approximately $255,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of NIC by 36.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 81,646 shares of the software maker’s stock worth $1,547,000 after buying an additional 21,612 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of NIC during the second quarter worth about $259,000. State Street Corp boosted its stake in shares of NIC by 5.9% in the second quarter. State Street Corp now owns 1,587,370 shares of the software maker’s stock worth $30,083,000 after buying an additional 88,954 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of NIC by 1.8% in the second quarter. Gotham Asset Management LLC now owns 299,205 shares of the software maker’s stock worth $5,670,000 after buying an additional 5,356 shares during the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.
Shares of NIC (NASDAQ EGOV) traded up 0.32% during midday trading on Friday, hitting $15.90. The company’s stock had a trading volume of 161,604 shares. NIC has a 1-year low of $15.75 and a 1-year high of $25.90. The company has a market cap of $1.05 billion, a P/E ratio of 18.71 and a beta of 0.42. The company has a 50-day moving average price of $17.47 and a 200 day moving average price of $20.04.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.02%. NIC’s payout ratio is presently 38.10%.
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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.
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