Brokerages predict that NIC Inc. (NASDAQ:EGOV) will post sales of $76.18 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 $79.43 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 would suggest a negative year-over-year growth rate of 8.7%. The company is expected to issue its next earnings results on Wednesday, January 30th.
On average, analysts expect that NIC will report full-year sales of $338.55 million for the current year, with estimates ranging from $336.05 million to $340.58 million. For the next financial year, analysts anticipate that the business will report sales of $329.79 million, with estimates ranging from $322.60 million to $341.90 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for NIC.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Thursday, November 1st. The software maker reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.07. NIC had a return on equity of 33.33% and a net margin of 16.94%. The business had revenue of $87.03 million during the quarter, compared to analyst estimates of $83.06 million. During the same quarter last year, the company posted $0.21 EPS. NIC’s revenue for the quarter was up 3.0% on a year-over-year basis.
A number of research firms recently weighed in on EGOV. TheStreet upgraded NIC from a “c+” rating to a “b-” rating in a research report on Wednesday, August 22nd. Loop Capital increased their price target on NIC to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 2nd. ValuEngine upgraded NIC from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub lowered NIC from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Stephens reiterated a “hold” rating and issued a $18.00 price target on shares of NIC in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. NIC currently has an average rating of “Hold” and a consensus price target of $18.33.
NASDAQ:EGOV opened at $14.00 on Friday. NIC has a 1-year low of $12.65 and a 1-year high of $18.90. The firm has a market capitalization of $931.84 million, a P/E ratio of 15.73, a P/E/G ratio of 1.77 and a beta of 0.71.
Several large investors have recently added to or reduced their stakes in EGOV. BlackRock Inc. boosted 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 purchasing an additional 396,537 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in NIC in the 2nd quarter worth about $5,947,000. Conestoga Capital Advisors LLC lifted its stake in NIC by 16.2% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,007,903 shares of the software maker’s stock worth $29,717,000 after acquiring an additional 279,660 shares in the last quarter. First Trust Advisors LP lifted its stake in NIC by 5.2% in the 2nd quarter. First Trust Advisors LP now owns 4,495,235 shares of the software maker’s stock worth $69,901,000 after acquiring an additional 223,996 shares in the last quarter. Finally, Spark Investment Management LLC lifted its stake in NIC by 83.6% in the 2nd quarter. Spark Investment Management LLC now owns 389,800 shares of the software maker’s stock worth $6,061,000 after acquiring an additional 177,500 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.
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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