Wall Street brokerages forecast that NIC Inc. (NASDAQ:EGOV) will post $87.68 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for NIC’s earnings, with estimates ranging from $87.11 million to $88.21 million. NIC posted sales of $83.18 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The company is scheduled to announce its next earnings report after the market closes on Monday, April 30th.
On average, analysts expect that NIC will report full-year sales of $87.68 million for the current financial year, with estimates ranging from $333.46 million to $340.66 million. For the next fiscal year, analysts anticipate that the firm will post sales of $329.96 million per share, with estimates ranging from $320.77 million to $344.72 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for NIC.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Wednesday, January 31st. The software maker reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $83.47 million during the quarter, compared to the consensus estimate of $81.01 million. NIC had a return on equity of 33.25% and a net margin of 15.34%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered NIC from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. BidaskClub cut shares of NIC from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Barrington Research restated a “hold” rating on shares of NIC in a report on Friday, March 9th. TheStreet cut shares of NIC from a “b-” rating to a “c” rating in a report on Thursday, March 8th. Finally, ValuEngine cut shares of NIC from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. NIC currently has a consensus rating of “Hold” and a consensus target price of $18.33.
EGOV stock traded down $0.05 during trading on Thursday, hitting $13.75. The company had a trading volume of 604,389 shares, compared to its average volume of 725,625. The stock has a market capitalization of $922.90, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.80 and a beta of 0.51. NIC has a 1-year low of $12.65 and a 1-year high of $22.40.
NIC declared that its Board of Directors has authorized a share buyback program on Thursday, March 8th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 5th. This represents a $0.32 dividend on an annualized basis and a yield of 2.33%. NIC’s dividend payout ratio (DPR) is presently 41.56%.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC bought a new stake in NIC in the 3rd quarter worth approximately $183,000. First Trust Advisors LP bought a new position in shares of NIC in the third quarter valued at about $188,000. Commerce Bank bought a new position in shares of NIC in the fourth quarter valued at about $199,000. American Capital Management Inc. bought a new position in shares of NIC in the fourth quarter valued at about $205,000. Finally, Ramsey Quantitative Systems bought a new position in shares of NIC in the fourth quarter valued at about $237,000. 97.53% of the stock is owned by institutional investors.
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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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