NIC Inc. (EGOV) Expected to Post Earnings of $0.18 Per Share
Wall Street analysts forecast that NIC Inc. (NASDAQ:EGOV) will announce earnings of $0.18 per share for the current quarter, according to Zacks. Four analysts have issued estimates for NIC’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. NIC reported earnings of $0.24 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 25%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that NIC will report full year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.72 to $0.81. For the next financial year, analysts expect that the business will post earnings of $0.79 per share, with EPS estimates ranging from $0.77 to $0.84. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow NIC.
NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analyst estimates of $83.57 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year.
EGOV has been the subject of a number of research analyst reports. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Zacks Investment Research cut NIC from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Monday, July 17th. Maxim Group lowered their price target on NIC from $21.00 to $16.00 and set a “hold” rating for the company in a report 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 report on Friday, July 21st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.29.
Shares of NIC (EGOV) opened at 17.00 on Friday. The stock has a 50 day moving average price of $17.12 and a 200-day moving average price of $18.45. NIC has a 52 week low of $15.45 and a 52 week high of $25.90. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.00 and a beta of 0.41.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Aperio Group LLC increased its holdings in NIC by 12.5% in the 3rd quarter. Aperio Group LLC now owns 35,804 shares of the software maker’s stock worth $614,000 after purchasing an additional 3,977 shares in the last quarter. Cardinal Capital Management acquired a new position in NIC in the 3rd quarter worth about $504,000. First Trust Advisors LP acquired a new position in NIC in the 3rd quarter worth about $188,000. Fox Run Management L.L.C. acquired a new position in NIC in the 3rd quarter worth about $309,000. Finally, U S Global Investors Inc. acquired a new position in NIC in the 2nd quarter worth about $472,000. 92.90% of the stock is owned by institutional investors and hedge funds.
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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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