Wall Street analysts predict that NIC Inc. (NASDAQ:EGOV) will post earnings of $0.18 per share for the current quarter, Zacks reports. Three analysts have provided estimates for NIC’s earnings. NIC posted earnings of $0.20 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that NIC will report full year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.72. For the next fiscal year, analysts forecast that the firm will post earnings of $0.77 per share, with EPS estimates ranging from $0.74 to $0.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow NIC.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The firm had revenue of $83.20 million for the quarter, compared to analysts’ expectations of $81.99 million. NIC had a net margin of 17.56% and a return on equity of 39.21%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS.
Several research firms have recently issued reports on EGOV. Avondale Partners lowered shares of NIC from a “market perform” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of NIC from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 3rd. Sidoti raised shares of NIC from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Friday, February 3rd. Finally, Loop Capital began coverage on shares of NIC in a research report on Tuesday, February 14th. They issued a “hold” rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.83.
In related news, Director Alexander C. Kemper sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $20.85, for a total transaction of $145,950.00. Following the sale, the director now owns 32,232 shares of the company’s stock, valued at approximately $672,037.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Creative Planning raised its stake in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock worth $234,000 after buying an additional 127 shares during the period. State of Alaska Department of Revenue raised its stake in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock worth $138,000 after buying an additional 140 shares during the period. Zebra Capital Management LLC raised its stake in NIC by 0.6% in the fourth quarter. Zebra Capital Management LLC now owns 25,356 shares of the software maker’s stock worth $606,000 after buying an additional 163 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in NIC by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,610 shares of the software maker’s stock worth $320,000 after buying an additional 230 shares during the period. Finally, First Allied Advisory Services Inc. raised its stake in NIC by 2.6% in the fourth quarter. First Allied Advisory Services Inc. now owns 10,473 shares of the software maker’s stock worth $250,000 after buying an additional 264 shares during the period. 85.83% of the stock is currently owned by institutional investors and hedge funds.
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NIC (NASDAQ:EGOV) remained flat at $20.75 on Wednesday. 225,739 shares of the stock were exchanged. The stock’s 50-day moving average price is $20.71 and its 200 day moving average price is $22.74. The company has a market capitalization of $1.37 billion, a PE ratio of 24.27 and a beta of 0.61. NIC has a 52 week low of $18.15 and a 52 week high of $25.90.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, June 2nd.
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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