NIC Inc. (NASDAQ:EGOV) – Research analysts at Barrington Research reduced their Q2 2018 earnings estimates for shares of NIC in a research note issued to investors on Tuesday. Barrington Research analyst G. Prestopino now expects that the software maker will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.21. Barrington Research also issued estimates for NIC’s Q3 2018 earnings at $0.19 EPS.

A number of other analysts have also recently issued reports on EGOV. Zacks Investment Research cut NIC from a “hold” rating to a “sell” rating in a report on Monday. BidaskClub cut NIC from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Maxim Group restated a “hold” rating and issued a $16.00 price target on shares of NIC in a report on Thursday, November 2nd. Finally, DA Davidson restated a “neutral” rating and issued a $18.00 price target on shares of NIC in a report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.43.

Shares of NIC (EGOV) traded down $0.15 during trading hours on Wednesday, hitting $17.05. The stock had a trading volume of 604,600 shares, compared to its average volume of 547,617. NIC has a 1-year low of $15.45 and a 1-year high of $25.70. The stock has a market cap of $1,130.00, a PE ratio of 20.79, a P/E/G ratio of 2.13 and a beta of 0.38.

NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. NIC had a return on equity of 36.89% and a net margin of 16.42%. The business had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, December 4th. NIC’s dividend payout ratio is presently 39.02%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGOV. BlackRock Inc. boosted its holdings in NIC by 8.9% in the 2nd quarter. BlackRock Inc. now owns 8,145,068 shares of the software maker’s stock worth $154,348,000 after acquiring an additional 665,492 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NIC by 53.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock valued at $25,604,000 after buying an additional 470,181 shares during the last quarter. FMR LLC boosted its stake in shares of NIC by 43.0% during the 2nd quarter. FMR LLC now owns 1,062,500 shares of the software maker’s stock valued at $20,134,000 after buying an additional 319,300 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of NIC by 18.5% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,015,893 shares of the software maker’s stock valued at $34,573,000 after buying an additional 314,905 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of NIC by 269.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 345,905 shares of the software maker’s stock valued at $6,123,000 after buying an additional 252,383 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

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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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