Zacks: Brokerages Expect NIC Inc. (NASDAQ:EGOV) Will Post Earnings of $0.18 Per Share
Equities research analysts expect NIC Inc. (NASDAQ:EGOV) to report earnings of $0.18 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for NIC’s earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at $0.16. NIC posted earnings of $0.24 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 25%. The firm is expected to issue its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that NIC will report full year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.76. For the next year, analysts forecast that the company will post earnings of $0.79 per share, with EPS estimates ranging from $0.77 to $0.81. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for NIC.
NIC (NASDAQ:EGOV) last posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. NIC had a return on equity of 38.37% and a net margin of 17.31%. NIC’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share.
Several brokerages recently issued reports on EGOV. Zacks Investment Research upgraded NIC from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, July 18th. Maxim Group set a $16.00 price target on NIC and gave the company a “hold” rating in a research note on Thursday, August 3rd. Imperial Capital upgraded NIC from an “in-line” rating to an “outperform” rating and set a $23.00 price target on the stock in a research note on Monday, July 17th. Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Friday, July 21st. Finally, DA Davidson began coverage on NIC in a report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.00.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of NIC stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.38, for a total transaction of $509,500.00. Following the sale, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at $4,025,681.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. increased its stake in NIC by 350.0% in the second quarter. Pacad Investment Ltd. now owns 5,400 shares of the software maker’s stock worth $102,000 after buying an additional 4,200 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in NIC during the first quarter worth $111,000. SG Americas Securities LLC increased its stake in NIC by 7.6% in the first quarter. SG Americas Securities LLC now owns 6,821 shares of the software maker’s stock worth $138,000 after buying an additional 482 shares during the last quarter. State of Alaska Department of Revenue increased its stake in 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 worth $138,000 after buying an additional 140 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its stake in NIC by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 8,201 shares of the software maker’s stock worth $156,000 after buying an additional 108 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors.
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NIC (NASDAQ:EGOV) remained flat at $16.05 during mid-day trading on Friday. The company’s stock had a trading volume of 543,960 shares. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 18.88 and a beta of 0.42. The company has a 50 day moving average price of $17.68 and a 200 day moving average price of $20.25. NIC has a 52-week low of $15.75 and a 52-week high of $25.90.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s payout ratio is 38.10%.
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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