Brokerages Expect NIC Inc. (EGOV) Will Announce Earnings of $0.18 Per Share
Equities analysts predict that NIC Inc. (NASDAQ:EGOV) will announce earnings of $0.18 per share for the current quarter, Zacks reports. Four analysts have issued estimates for NIC’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. NIC posted earnings of $0.24 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that NIC will report full-year earnings of $0.74 per share for the current financial year, with EPS estimates ranging from $0.72 to $0.76. For the next year, analysts anticipate that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.77 to $0.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow NIC.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share.
EGOV has been the topic of several recent research reports. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Monday, July 17th. Maxim Group cut their target price on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Friday, July 21st. Finally, BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. NIC has an average rating of “Hold” and a consensus target price of $20.00.
In other news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the transaction, the chief operating officer now directly owns 197,531 shares in the company, valued at $4,025,681.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Pacad Investment Ltd. raised its position in NIC by 350.0% in the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after buying an additional 4,200 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in NIC during the first quarter worth approximately $111,000. SG Americas Securities LLC raised its position in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after buying an additional 482 shares during the last quarter. State of Alaska Department of Revenue raised its position 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 worth $138,000 after buying an additional 140 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in NIC by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.
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Shares of NIC (NASDAQ EGOV) remained flat at $16.05 during midday trading on Friday. The stock had a trading volume of 543,960 shares. The firm has a 50 day moving average price of $17.68 and a 200-day moving average price of $20.25. NIC has a 52-week low of $15.75 and a 52-week high of $25.90. The company has a market cap of $1.06 billion, a PE ratio of 18.88 and a beta of 0.42.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 1st. This represents a $0.32 annualized dividend and a yield of 1.99%. NIC’s dividend payout ratio (DPR) is currently 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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