Brokerages Anticipate NIC Inc. (EGOV) Will Announce Earnings of $0.18 Per Share
Equities analysts expect that NIC Inc. (NASDAQ:EGOV) will report $0.18 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for NIC’s earnings. NIC posted earnings per share of $0.20 during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The business is scheduled to report its next earnings results on Thursday, August 3rd.
On average, analysts expect that NIC will report full year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.72. For the next year, analysts anticipate that the company will report earnings of $0.77 per share, with EPS estimates ranging from $0.74 to $0.81. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover NIC.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $83.20 million for the quarter, compared to analysts’ expectations of $81.99 million. NIC had a return on equity of 40.16% and a net margin of 16.81%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share.
A number of equities analysts have issued reports on EGOV shares. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Thursday, May 4th. Loop Capital assumed coverage on NIC in a research note on Tuesday, February 14th. They issued a “hold” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.83.
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In related news, Director Alexander C. Kemper sold 7,000 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $20.85, for a total transaction of $145,950.00. Following the sale, the director now owns 32,232 shares in the company, valued at approximately $672,037.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total value of $509,500.00. Following the sale, the chief operating officer now owns 197,531 shares in the company, valued at approximately $4,025,681.78. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in shares of NIC during the first quarter valued at about $111,000. State of Alaska Department of Revenue raised its position in shares of 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 valued at $138,000 after buying an additional 140 shares during the last quarter. SG Americas Securities LLC raised its position in shares of NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of NIC by 595.1% in the first quarter. Advisors Asset Management Inc. now owns 8,932 shares of the software maker’s stock valued at $180,000 after buying an additional 7,647 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of NIC during the fourth quarter valued at about $219,000. Institutional investors own 85.83% of the company’s stock.
NIC (NASDAQ EGOV) traded down 0.75% during trading on Monday, reaching $19.75. The company had a trading volume of 313,890 shares. NIC has a 12-month low of $19.50 and a 12-month high of $25.90. The firm’s 50 day moving average price is $20.82 and its 200 day moving average price is $22.35. The firm has a market capitalization of $1.31 billion, a PE ratio of 23.10 and a beta of 0.61.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.61%.
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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