NIC Inc. (NASDAQ:EGOV) issued its quarterly earnings results on Wednesday. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03, Bloomberg Earnings reports. The business had revenue of $84.53 million for the quarter, compared to the consensus estimate of $83.55 million. NIC had a return on equity of 34.45% and a net margin of 14.96%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share.
A number of brokerages recently issued reports on EGOV. Zacks Investment Research downgraded NIC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. TheStreet downgraded NIC from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Sidoti downgraded NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Friday, July 21st. Maxim Group set a $16.00 target price on NIC and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.29.
NIC Company Profile
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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