Wall Street brokerages forecast that NIC Inc. (NASDAQ:EGOV) will announce $0.18 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for NIC’s earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at $0.16. NIC reported earnings of $0.24 per share during the same quarter last year, which suggests a negative year over year growth rate of 25%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that NIC will report full-year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.76. For the next financial year, analysts forecast that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.77 to $0.81. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow NIC.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. NIC had a net margin of 14.96% and a return on equity of 34.45%. The company had revenue of $85.30 million during the quarter, compared to analyst estimates of $83.57 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year.
A number of brokerages have issued reports on EGOV. Zacks Investment Research downgraded shares of NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Maxim Group set a $16.00 price objective on shares of NIC and gave the stock a “hold” rating in a research note on Thursday, August 3rd. DA Davidson started coverage on shares of NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price objective for the company. Sidoti cut shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Friday, July 21st. Finally, BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. NIC has an average rating of “Hold” and an average target price of $20.00.
In related news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the completion of the transaction, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in EGOV. Teachers Advisors LLC boosted its stake in NIC by 12.1% in the fourth quarter. Teachers Advisors LLC now owns 119,963 shares of the software maker’s stock valued at $2,867,000 after buying an additional 12,936 shares during the period. Creative Planning boosted its stake in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares during the period. Capstone Asset Management Co. boosted its stake in NIC by 3.3% in the first quarter. Capstone Asset Management Co. now owns 18,505 shares of the software maker’s stock valued at $374,000 after buying an additional 585 shares during the period. Louisiana State Employees Retirement System boosted its stake in NIC by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $511,000 after buying an additional 400 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in NIC by 4.8% in the first quarter. Conestoga Capital Advisors LLC now owns 1,640,018 shares of the software maker’s stock valued at $33,128,000 after buying an additional 75,228 shares during the period. 92.55% of the stock is owned by institutional investors.
NIC (EGOV) traded up 0.32% during mid-day trading on Friday, reaching $15.90. 161,504 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $17.47 and its 200 day moving average price is $20.04. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 18.71 and a beta of 0.42. NIC has a one year low of $15.75 and a one year high of $25.90.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.02%. NIC’s dividend payout ratio is presently 38.10%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NIC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC Inc. and related companies with our FREE daily email newsletter.