NIC Inc. (NASDAQ:EGOV) Expected to Announce Quarterly Sales of $89.20 Million
Analysts expect NIC Inc. (NASDAQ:EGOV) to report sales of $89.20 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for NIC’s earnings. The highest sales estimate is $91.14 million and the lowest is $87.26 million. NIC posted sales of $87.03 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, November 7th.
According to Zacks, analysts expect that NIC will report full-year sales of $350.35 million for the current fiscal year, with estimates ranging from $350.22 million to $350.48 million. For the next year, analysts anticipate that the firm will post sales of $374.36 million, with estimates ranging from $371.68 million to $377.03 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for NIC.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, July 31st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The firm had revenue of $91.60 million during the quarter, compared to analyst estimates of $86.45 million. NIC had a net margin of 15.10% and a return on equity of 24.45%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS.
Shares of NIC stock traded down $0.46 during trading on Monday, hitting $20.68. The stock had a trading volume of 203,365 shares, compared to its average volume of 317,010. The firm’s fifty day simple moving average is $20.74 and its 200-day simple moving average is $18.27. The stock has a market cap of $1.38 billion, a PE ratio of 23.50, a PEG ratio of 1.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.69 and a quick ratio of 2.69. NIC has a 12 month low of $11.76 and a 12 month high of $23.45.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, September 5th. NIC’s dividend payout ratio is presently 36.36%.
In related news, Director William M. Lyons sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $20.96, for a total value of $209,600.00. Following the transaction, the director now owns 61,786 shares of the company’s stock, valued at approximately $1,295,034.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisors Preferred LLC purchased a new position in NIC during the 2nd quarter valued at about $26,000. NumerixS Investment Technologies Inc increased its position in NIC by 477.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 5,200 shares of the software maker’s stock valued at $88,000 after purchasing an additional 4,300 shares during the period. Taylor Hoffman Wealth Management purchased a new position in NIC during the 2nd quarter valued at about $157,000. UMB Bank N A MO purchased a new position in NIC during the 2nd quarter valued at about $162,000. Finally, Janus Henderson Group PLC purchased a new position in NIC during the 2nd quarter valued at about $168,000. 86.64% of the stock is currently owned by institutional investors.
NIC Company Profile
NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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