NIC Inc. (NASDAQ:EGOV) declared a quarterly dividend on Friday, August 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, September 5th will be given a dividend of 0.08 per share by the software maker on Wednesday, September 19th. This represents a $0.32 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, September 4th.
NIC has a dividend payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NIC to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 42.7%.
NASDAQ:EGOV opened at $16.80 on Thursday. NIC has a 1-year low of $12.65 and a 1-year high of $18.90. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.15 and a beta of 0.47.
NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Wednesday, August 1st. The software maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. NIC had a net margin of 16.52% and a return on equity of 33.16%. The firm had revenue of $92.50 million for the quarter, compared to analyst estimates of $90.36 million. During the same period in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. equities research analysts predict that NIC will post 0.79 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the stock. BidaskClub lowered shares of NIC from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 12th. ValuEngine lowered shares of NIC from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Barrington Research restated a “hold” rating on shares of NIC in a report on Monday, August 6th. Stephens restated a “hold” rating and issued a $18.00 price objective on shares of NIC in a report on Thursday, August 2nd. Finally, Loop Capital upped their price objective on shares of NIC to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 2nd. Eight investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $17.80.
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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