Equities analysts forecast that NIC Inc. (NASDAQ:EGOV) will report earnings per share of $0.18 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for NIC’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.19. NIC posted earnings per share of $0.25 during the same quarter last year, which would suggest a negative year over year growth rate of 28%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that NIC will report full year earnings of $0.73 per share for the current financial year, with EPS estimates ranging from $0.67 to $0.80. For the next fiscal year, analysts expect that the firm will post earnings of $0.83 per share, with EPS estimates ranging from $0.80 to $0.88. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover NIC.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The company had revenue of $85.20 million for the quarter, compared to analyst estimates of $82.07 million. NIC had a net margin of 15.80% and a return on equity of 26.73%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share.
EGOV has been the topic of several recent analyst reports. Loop Capital raised shares of NIC from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. DA Davidson reaffirmed a “buy” rating on shares of OP Bancorp in a report on Monday, April 29th. Barrington Research set a $68.00 price objective on shares of WNS and gave the company a “buy” rating in a report on Wednesday, July 3rd. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, June 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.50.
In other news, CFO Stephen M. Kovzan sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $16.04, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 230,691 shares of the company’s stock, valued at $3,700,283.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of NIC by 4.6% in the fourth quarter. BlackRock Inc. now owns 9,998,406 shares of the software maker’s stock worth $124,779,000 after buying an additional 442,087 shares in the last quarter. FMR LLC raised its stake in NIC by 18.0% during the fourth quarter. FMR LLC now owns 2,852,872 shares of the software maker’s stock worth $35,604,000 after purchasing an additional 434,209 shares during the period. Dimensional Fund Advisors LP raised its stake in NIC by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock worth $28,173,000 after purchasing an additional 56,159 shares during the period. Norges Bank purchased a new position in NIC during the fourth quarter worth about $24,319,000. Finally, D. E. Shaw & Co. Inc. raised its stake in NIC by 13.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,221,277 shares of the software maker’s stock worth $15,241,000 after purchasing an additional 146,218 shares during the period. 87.03% of the stock is currently owned by hedge funds and other institutional investors.
EGOV traded down $0.12 during midday trading on Friday, hitting $17.01. 396,235 shares of the company traded hands, compared to its average volume of 314,525. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.80 and a quick ratio of 2.80. The stock has a market cap of $1.15 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. NIC has a 52-week low of $11.76 and a 52-week high of $18.05. The stock’s 50 day moving average price is $16.26.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 11th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, June 10th. NIC’s dividend payout ratio is currently 36.36%.
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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