Analysts Anticipate NIC Inc. (EGOV) Will Post Quarterly Sales of $75.48 Million

Equities analysts forecast that NIC Inc. (NASDAQ:EGOV) will announce sales of $75.48 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NIC’s earnings, with the highest sales estimate coming in at $77.50 million and the lowest estimate coming in at $72.29 million. NIC reported sales of $83.47 million during the same quarter last year, which indicates a negative year-over-year growth rate of 9.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that NIC will report full-year sales of $341.74 million for the current fiscal year, with estimates ranging from $338.54 million to $343.75 million. For the next financial year, analysts expect that the company will post sales of $335.96 million, with estimates ranging from $329.53 million to $343.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow NIC.

NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Thursday, November 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.07. The business had revenue of $87.03 million during the quarter, compared to analysts’ expectations of $83.06 million. NIC had a net margin of 16.94% and a return on equity of 32.21%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share.

Several research analysts have recently issued reports on the stock. TheStreet upgraded shares of NIC from a “c+” rating to a “b-” rating in a report on Wednesday, August 22nd. ValuEngine raised shares of NIC from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. BidaskClub lowered shares of NIC from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Barrington Research reissued a “hold” rating on shares of NIC in a research note on Monday, August 6th. Finally, Loop Capital set a $15.00 target price on shares of NIC and gave the company a “hold” rating in a research note on Monday, November 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.00.

Shares of NIC stock traded down $0.03 on Tuesday, hitting $13.00. The company had a trading volume of 583,820 shares, compared to its average volume of 481,242. The stock has a market capitalization of $865.40 million, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.54 and a beta of 0.71. NIC has a 52 week low of $12.65 and a 52 week high of $18.90.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, December 4th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, December 3rd. NIC’s dividend payout ratio is presently 41.56%.

A number of hedge funds have recently added to or reduced their stakes in EGOV. Matarin Capital Management LLC acquired a new stake in NIC during the third quarter valued at approximately $11,528,000. BlackRock Inc. lifted its position in shares of NIC by 4.2% in the 2nd quarter. BlackRock Inc. now owns 9,754,378 shares of the software maker’s stock valued at $151,681,000 after acquiring an additional 396,537 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of NIC in the 2nd quarter valued at approximately $5,947,000. Conestoga Capital Advisors LLC lifted its position in shares of NIC by 16.2% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,007,903 shares of the software maker’s stock valued at $29,717,000 after acquiring an additional 279,660 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of NIC by 5.2% in the 2nd quarter. First Trust Advisors LP now owns 4,495,235 shares of the software maker’s stock valued at $69,901,000 after acquiring an additional 223,996 shares in the last quarter. 88.42% of the stock is owned by institutional investors and hedge funds.

About NIC

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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