Zacks: Brokerages Anticipate NIC Inc. (EGOV) Will Announce Quarterly Sales of $81.15 Million
Brokerages expect that NIC Inc. (NASDAQ:EGOV) will post $81.15 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for NIC’s earnings. The highest sales estimate is $84.15 million and the lowest is $79.91 million. NIC posted sales of $78.34 million during the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The company is expected to issue its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that NIC will report full-year sales of $81.15 million for the current fiscal year, with estimates ranging from $332.49 million to $337.18 million. For the next year, analysts anticipate that the firm will report sales of $354.57 million per share, with estimates ranging from $351.97 million to $357.97 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover NIC.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. NIC had a net margin of 16.42% and a return on equity of 36.89%. The firm had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 5.2% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Highbridge Capital Management LLC lifted its holdings in NIC by 75.4% in the 3rd quarter. Highbridge Capital Management LLC now owns 23,262 shares of the software maker’s stock worth $399,000 after buying an additional 10,001 shares in the last quarter. U S Global Investors Inc. lifted its holdings in NIC by 96.3% in the 3rd quarter. U S Global Investors Inc. now owns 48,911 shares of the software maker’s stock worth $839,000 after buying an additional 24,000 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in NIC in the 3rd quarter worth $328,000. Engineers Gate Manager LP acquired a new position in NIC in the 3rd quarter worth $901,000. Finally, Convergence Investment Partners LLC acquired a new position in NIC in the 3rd quarter worth $1,684,000. Hedge funds and other institutional investors own 93.33% of the company’s stock.
Shares of NIC (EGOV) opened at $16.20 on Wednesday. NIC has a 12-month low of $15.45 and a 12-month high of $25.90. The firm has a market cap of $1,119.95, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.17 and a beta of 0.38.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be issued a $0.08 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.98%. NIC’s dividend payout ratio is currently 39.51%.
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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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