FY2017 Earnings Estimate for NIC Inc. (NASDAQ:EGOV) Issued By Barrington Research
NIC Inc. (NASDAQ:EGOV) – Research analysts at Barrington Research upped their FY2017 earnings estimates for shares of NIC in a report issued on Monday. Barrington Research analyst G. Prestopino now anticipates that the software maker will post earnings per share of $0.73 for the year, up from their prior forecast of $0.72.
EGOV has been the subject of several other research reports. Zacks Investment Research downgraded shares of NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Maxim Group set a $16.00 price target on shares of NIC and gave the stock a “hold” rating in a research note on Thursday, August 3rd. DA Davidson assumed coverage on shares of NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target for the company. Sidoti downgraded shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Friday, July 21st. Finally, BidaskClub downgraded 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 assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.00.
Shares of NIC (NASDAQ EGOV) opened at 16.30 on Tuesday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 19.18 and a beta of 0.42. The firm’s 50-day moving average price is $18.52 and its 200-day moving average price is $20.67. NIC has a 12-month low of $15.75 and a 12-month high of $25.90.
NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $85.30 million during the quarter, compared to analyst estimates of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. NIC’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.96%. NIC’s dividend payout ratio (DPR) is currently 38.10%.
In other 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 completion of the sale, 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.
Several large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in NIC during the first quarter valued at about $111,000. State of Alaska Department of Revenue boosted its stake in NIC by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,850 shares of the software maker’s stock valued at $138,000 after buying an additional 140 shares during the period. SG Americas Securities LLC boosted its stake in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after buying an additional 482 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in NIC during the second quarter valued at about $153,000. Finally, Advisors Asset Management Inc. boosted its stake in NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.
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.
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 MarketBeat.com's FREE daily email newsletter.