Zacks: Analysts Anticipate NIC Inc. (EGOV) Will Post Quarterly Sales of $87.60 Million

Equities analysts forecast that NIC Inc. (NASDAQ:EGOV) will post sales of $87.60 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for NIC’s earnings, with estimates ranging from $87.02 million to $88.01 million. NIC reported sales of $83.18 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The company is scheduled to announce its next earnings report on Monday, May 7th.

On average, analysts expect that NIC will report full-year sales of $87.60 million for the current financial year, with estimates ranging from $334.28 million to $351.97 million. For the next fiscal year, analysts forecast that the business will report sales of $327.61 million per share, with estimates ranging from $321.85 million to $333.38 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover NIC.

NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, January 31st. The software maker reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. NIC had a return on equity of 33.25% and a net margin of 15.34%. The firm had revenue of $83.47 million during the quarter, compared to the consensus estimate of $81.01 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year.

A number of research firms recently commented on EGOV. Loop Capital decreased their target price on NIC to $14.00 and set a “hold” rating for the company in a report on Friday, February 2nd. Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. BidaskClub downgraded NIC from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, Maxim Group reaffirmed a “hold” rating and set a $16.00 target price on shares of NIC in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.33.

A number of large investors have recently made changes to their positions in the business. Voya Investment Management LLC lifted its holdings in NIC by 6.9% in the second quarter. Voya Investment Management LLC now owns 31,858 shares of the software maker’s stock valued at $604,000 after acquiring an additional 2,067 shares during the period. Teachers Advisors LLC lifted its holdings in NIC by 2.2% in the second quarter. Teachers Advisors LLC now owns 115,285 shares of the software maker’s stock valued at $2,185,000 after acquiring an additional 2,480 shares during the period. American International Group Inc. lifted its holdings in NIC by 6.8% in the third quarter. American International Group Inc. now owns 51,052 shares of the software maker’s stock valued at $876,000 after acquiring an additional 3,264 shares during the period. Aperio Group LLC lifted its holdings in NIC by 12.5% in the third quarter. Aperio Group LLC now owns 35,804 shares of the software maker’s stock valued at $614,000 after acquiring an additional 3,977 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in NIC by 22.3% in the third quarter. Alps Advisors Inc. now owns 28,090 shares of the software maker’s stock valued at $482,000 after acquiring an additional 5,124 shares during the period. 93.01% of the stock is owned by institutional investors.

Shares of NIC (EGOV) opened at $13.45 on Tuesday. NIC has a twelve month low of $12.65 and a twelve month high of $22.40. The company has a market capitalization of $878.09, a PE ratio of 17.21, a P/E/G ratio of 1.56 and a beta of 0.38.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Monday, March 5th. NIC’s payout ratio is presently 41.56%.

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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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Earnings History and Estimates for NIC (NASDAQ:EGOV)

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