Q2 2018 EPS Estimates for NIC Inc. (EGOV) Decreased by Analyst

NIC Inc. (NASDAQ:EGOV) – Barrington Research reduced their Q2 2018 earnings per share estimates for shares of NIC in a report released on Tuesday. Barrington Research analyst G. Prestopino now anticipates that the software maker will earn $0.20 per share for the quarter, down from their previous estimate of $0.21. Barrington Research also issued estimates for NIC’s Q3 2018 earnings at $0.19 EPS.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The firm had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. NIC had a return on equity of 36.89% and a net margin of 16.42%. NIC’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, October 3rd. Maxim Group reiterated a “hold” rating and set a $16.00 target price on shares of NIC in a research note on Thursday, November 2nd. DA Davidson reiterated a “neutral” rating and set a $18.00 target price on shares of NIC in a research note on Wednesday, September 20th. Finally, BidaskClub cut NIC from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. NIC presently has a consensus rating of “Hold” and an average price target of $19.43.

NIC (NASDAQ:EGOV) traded down $0.15 during midday trading on Wednesday, reaching $17.05. The company’s stock had a trading volume of 604,600 shares, compared to its average volume of 547,617. The stock has a market cap of $1,130.00, a PE ratio of 20.79, a PEG ratio of 2.13 and a beta of 0.38. NIC has a 52-week low of $15.45 and a 52-week high of $25.70.

Several hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC raised its position in shares of NIC by 75.4% during the 3rd quarter. Highbridge Capital Management LLC now owns 23,262 shares of the software maker’s stock valued at $399,000 after acquiring an additional 10,001 shares in the last quarter. U S Global Investors Inc. raised its position in shares of NIC by 96.3% during the 3rd quarter. U S Global Investors Inc. now owns 48,911 shares of the software maker’s stock valued at $839,000 after acquiring an additional 24,000 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of NIC during the 3rd quarter valued at approximately $328,000. Engineers Gate Manager LP acquired a new stake in shares of NIC during the 3rd quarter valued at approximately $901,000. Finally, Convergence Investment Partners LLC acquired a new stake in shares of NIC during the 3rd quarter valued at approximately $1,684,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, December 5th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, December 4th. NIC’s dividend payout ratio is currently 39.02%.

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About NIC

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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