Zacks: Brokerages Anticipate NIC Inc. (EGOV) Will Post Quarterly Sales of $83.44 Million
Brokerages expect NIC Inc. (NASDAQ:EGOV) to announce sales of $83.44 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for NIC’s earnings, with the highest sales estimate coming in at $84.89 million and the lowest estimate coming in at $82.13 million. NIC reported sales of $80.81 million during the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The business is scheduled to issue its next quarterly earnings results 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 expect that the business will report sales of $352.93 million per share, with estimates ranging from $349.51 million to $359.79 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover NIC.
NIC (NASDAQ:EGOV) last announced its quarterly earnings data on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. NIC had a return on equity of 39.07% and a net margin of 17.64%. The firm had revenue of $83.20 million during the quarter, compared to analyst estimates of $81.99 million. During the same period last year, the company posted $0.19 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year.
Several equities research analysts have issued reports on the company. DA Davidson assumed coverage on NIC in a report on Wednesday. They issued a “neutral” rating and a $20.00 price target for the company. BidaskClub downgraded NIC from a “sell” rating to a “strong sell” rating in a report on Friday. Finally, Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $22.43.
In other news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was 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 $4,025,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock valued at $151,087,000 after buying an additional 7,474,225 shares in the last quarter. Vanguard Group Inc. boosted its position in NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock valued at $119,252,000 after buying an additional 427,702 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in NIC by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,066,804 shares of the software maker’s stock valued at $41,749,000 after buying an additional 14,342 shares in the last quarter. Columbia Wanger Asset Management LLC boosted its position in NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock valued at $37,647,000 after buying an additional 321,052 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position 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 in the last quarter. 92.93% of the stock is owned by institutional investors.
Shares of NIC (EGOV) traded down 0.26% during midday trading on Friday, reaching $18.95. The company’s stock had a trading volume of 586,748 shares. The stock has a 50-day moving average of $20.16 and a 200 day moving average of $21.78. The company 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 12 month low of $18.60 and a 12 month high of $25.90.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th were given a dividend of $0.08 per share. The ex-dividend date was Friday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.69%. NIC’s dividend payout ratio is currently 37.65%.
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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