Brokerages predict that NIC Inc. (NASDAQ:EGOV) will report earnings of $0.16 per share for the current quarter, Zacks reports. Four analysts have issued estimates for NIC’s earnings, with estimates ranging from $0.15 to $0.17. NIC reported earnings per share of $0.20 during the same quarter last year, which indicates a negative year over year growth rate of 20%. The business is expected to report its next quarterly earnings results on Wednesday, February 7th.
On average, analysts expect that NIC will report full year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.81. For the next fiscal year, analysts anticipate that the company will post earnings of $0.80 per share, with EPS estimates ranging from $0.77 to $0.84. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow NIC.
NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. NIC had a return on equity of 36.89% and a net margin of 16.42%. The business had revenue of $84.53 million during the quarter, compared to analyst estimates of $83.55 million. During the same period in the prior year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year.
EGOV has been the subject of a number of recent analyst reports. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a report on Monday, August 14th. Zacks Investment Research lowered NIC from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. DA Davidson reaffirmed a “neutral” rating and set a $18.00 price target on shares of NIC in a research note on Wednesday, September 20th. BidaskClub raised NIC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Maxim Group reaffirmed a “hold” rating and set a $16.00 price target on shares of NIC in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.29.
A number of hedge funds and other institutional investors have recently modified their holdings of EGOV. BlackRock Inc. boosted its stake in NIC by 8.9% during the 2nd quarter. BlackRock Inc. now owns 8,145,068 shares of the software maker’s stock valued at $154,348,000 after purchasing an additional 665,492 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of NIC by 53.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock valued at $25,604,000 after acquiring an additional 470,181 shares during the last quarter. FMR LLC lifted its position in shares of NIC by 43.0% during the 2nd quarter. FMR LLC now owns 1,062,500 shares of the software maker’s stock valued at $20,134,000 after acquiring an additional 319,300 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of NIC by 18.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,015,893 shares of the software maker’s stock valued at $34,573,000 after acquiring an additional 314,905 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of NIC during the 2nd quarter valued at $5,827,000. 93.33% of the stock is owned by hedge funds and other institutional investors.
Shares of NIC (NASDAQ:EGOV) traded down $0.35 during mid-day trading on Monday, reaching $16.55. The company had a trading volume of 391,815 shares, compared to its average volume of 443,036. NIC has a 1-year low of $15.45 and a 1-year high of $25.90. The company has a market cap of $1,119.95, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.17 and a beta of 0.38.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, December 4th. NIC’s payout ratio is currently 39.51%.
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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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