Wall Street brokerages expect NIC Inc. (NASDAQ:EGOV) to report $83.44 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for NIC’s earnings, with estimates ranging from $82.13 million to $84.89 million. NIC posted sales of $80.81 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that NIC will report full year sales of $83.44 million for the current fiscal year, with estimates ranging from $326.73 million to $334.72 million. For the next financial year, analysts forecast that the company will post sales of $352.93 million per share, with estimates ranging from $349.51 million to $359.79 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover 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, topping the 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 17.64% and a return on equity of 39.07%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday. DA Davidson initiated coverage on shares of NIC in a research note on Wednesday. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.43.
In related news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares in the company, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGOV. Ameriprise Financial Inc. boosted its position in NIC by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 656,433 shares of the software maker’s stock worth $13,260,000 after buying an additional 28,513 shares during the period. Koch Industries Inc. purchased a new position in NIC during the first quarter worth $349,000. Gotham Asset Management LLC boosted its position in NIC by 18.0% in the first quarter. Gotham Asset Management LLC now owns 293,849 shares of the software maker’s stock worth $5,936,000 after buying an additional 44,856 shares during the period. Karp Capital Management Corp purchased a new position in NIC during the first quarter worth $669,000. Finally, Spark Investment Management LLC boosted its position in NIC by 54.5% in the first quarter. Spark Investment Management LLC now owns 102,300 shares of the software maker’s stock worth $2,066,000 after buying an additional 36,100 shares during the period. Institutional investors own 92.93% of the company’s stock.
NIC (NASDAQ EGOV) traded down 0.26% on Friday, hitting $18.95. 586,748 shares of the stock traded hands. The company’s 50 day moving average price is $20.16 and its 200-day moving average price is $21.78. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 22.16 and a beta of 0.53. NIC has a 52-week low of $18.60 and a 52-week high of $25.90.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, June 2nd. NIC’s dividend payout ratio (DPR) is 37.65%.
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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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