NIC Inc. to Post Q3 2017 Earnings of $0.19 Per Share, Imperial Capital Forecasts (EGOV)
NIC Inc. (NASDAQ:EGOV) – Imperial Capital raised their Q3 2017 earnings per share (EPS) estimates for NIC in a research note issued on Monday. Imperial Capital analyst J. Kessler now expects that the software maker will earn $0.19 per share for the quarter, up from their previous estimate of $0.18. Imperial Capital currently has a “Outperform” rating and a $23.00 target price on the stock. Imperial Capital also issued estimates for NIC’s FY2017 earnings at $0.74 EPS, Q2 2018 earnings at $0.21 EPS and FY2018 earnings at $0.77 EPS.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The company had revenue of $85.30 million during the quarter, compared to the consensus estimate of $83.57 million. During the same quarter last year, the company earned $0.20 earnings per share. NIC’s quarterly revenue was up 5.6% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “NIC Inc. to Post Q3 2017 Earnings of $0.19 Per Share, Imperial Capital Forecasts (EGOV)” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/08/08/nic-inc-to-post-q3-2017-earnings-of-0-19-per-share-imperial-capital-forecasts-egov.html.
Several other research firms have also recently issued reports on EGOV. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Thursday, May 4th. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. DA Davidson began coverage on NIC in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price target for the company. Maxim Group decreased their price target on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Finally, Sidoti cut 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $20.00.
Shares of NIC (EGOV) opened at 16.30 on Tuesday. The firm has a 50-day moving average price of $18.52 and a 200-day moving average price of $20.67. The firm has a market cap of $1.08 billion, a P/E ratio of 19.18 and a beta of 0.42. NIC has a 12-month low of $15.75 and a 12-month high of $25.90.
Hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of NIC during the second quarter valued at $153,000. Prudential Financial Inc. raised its stake in shares of NIC by 4.9% in the second quarter. Prudential Financial Inc. now owns 354,495 shares of the software maker’s stock valued at $6,718,000 after buying an additional 16,400 shares during the period. American Century Companies Inc. raised its stake in shares of NIC by 237.8% in the second quarter. American Century Companies Inc. now owns 138,649 shares of the software maker’s stock valued at $2,627,000 after buying an additional 97,602 shares during the period. Victory Capital Management Inc. raised its stake in shares of NIC by 8.1% in the second quarter. Victory Capital Management Inc. now owns 34,943 shares of the software maker’s stock valued at $662,000 after buying an additional 2,611 shares during the period. Finally, Marshall Wace North America L.P. raised its stake in shares of NIC by 489.1% in the second quarter. Marshall Wace North America L.P. now owns 360,572 shares of the software maker’s stock valued at $6,851,000 after buying an additional 299,364 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.
In other news, COO Robert W. Knapp sold 25,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the completion of the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.96%. NIC’s payout ratio is 38.10%.
NIC Company Profile
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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