$80.38 Million in Sales Expected for NIC Inc. (EGOV) This Quarter

Wall Street brokerages expect NIC Inc. (NASDAQ:EGOV) to post sales of $80.38 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for NIC’s earnings, with estimates ranging from $76.16 million to $83.00 million. NIC posted sales of $86.73 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.3%. The company is scheduled to report its next earnings report on Monday, April 29th.

According to Zacks, analysts expect that NIC will report full-year sales of $338.64 million for the current financial year, with estimates ranging from $335.16 million to $340.59 million. For the next fiscal year, analysts anticipate that the firm will report sales of $363.26 million, with estimates ranging from $361.04 million to $365.47 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow NIC.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, January 30th. The software maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $78.65 million during the quarter, compared to analysts’ expectations of $74.44 million. NIC had a net margin of 16.89% and a return on equity of 29.79%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share.

Several research firms have recently commented on EGOV. BidaskClub downgraded NIC from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Monday, February 4th. ValuEngine upgraded shares of NIC from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Loop Capital increased their price objective on shares of NIC to $16.00 and gave the company a “hold” rating in a research note on Thursday, January 31st. Finally, Barrington Research raised shares of NIC from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Thursday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. NIC has an average rating of “Buy” and an average target price of $19.75.

NASDAQ EGOV traded down $0.04 on Thursday, hitting $17.05. 349,892 shares of the company were exchanged, compared to its average volume of 585,433. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.36 and a beta of 0.88. NIC has a 1-year low of $11.76 and a 1-year high of $17.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, March 4th. NIC’s dividend payout ratio (DPR) is presently 36.36%.

Large investors have recently made changes to their positions in the company. Northern Trust Corp boosted its position in NIC by 7.2% during the 2nd quarter. Northern Trust Corp now owns 873,348 shares of the software maker’s stock valued at $13,580,000 after acquiring an additional 58,457 shares in the last quarter. Creative Planning raised its position in NIC by 51.4% in the third quarter. Creative Planning now owns 15,816 shares of the software maker’s stock valued at $234,000 after purchasing an additional 5,372 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of NIC during the third quarter worth $801,000. Public Employees Retirement Association of Colorado boosted its stake in NIC by 38.1% in the third quarter. Public Employees Retirement Association of Colorado now owns 19,102 shares of the software maker’s stock valued at $283,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of NIC in the third quarter valued at about $2,372,000. 85.95% of the stock is owned by hedge funds and other institutional investors.

NIC Company Profile

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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Earnings History and Estimates for NIC (NASDAQ:EGOV)

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