Wall Street analysts forecast that NIC Inc. (NASDAQ:EGOV) will report earnings per share (EPS) of $0.23 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for NIC’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.25. NIC posted earnings of $0.21 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 9.5%. The firm is scheduled to report its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that NIC will report full year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.78 to $0.91. For the next fiscal year, analysts anticipate that the company will report earnings of $0.82 per share, with EPS estimates ranging from $0.78 to $0.85. Zacks’ EPS averages are an average based on a survey of research analysts that follow NIC.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, January 31st. The software maker reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $83.47 million for the quarter, compared to the consensus estimate of $81.01 million. NIC had a return on equity of 33.25% and a net margin of 15.34%. NIC’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share.
Several research firms recently weighed in on EGOV. Zacks Investment Research downgraded NIC from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Maxim Group reiterated a “hold” rating and set a $16.00 target price on shares of NIC in a research report on Thursday, November 2nd. Loop Capital lowered their target price on NIC to $14.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Finally, BidaskClub downgraded NIC from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGOV. Voya Investment Management LLC lifted its position in shares of 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 in the last quarter. American International Group Inc. lifted its position in shares of 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 in the last quarter. Aperio Group LLC lifted its position in shares of 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 in the last quarter. Alps Advisors Inc. lifted its position in shares of 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 in the last quarter. Finally, OxFORD Asset Management LLP lifted its position in shares of NIC by 13.7% in the third quarter. OxFORD Asset Management LLP now owns 46,334 shares of the software maker’s stock valued at $795,000 after acquiring an additional 5,592 shares in the last quarter. Institutional investors own 96.42% of the company’s stock.
NIC (NASDAQ EGOV) traded down $0.45 during midday trading on Tuesday, reaching $13.60. The company had a trading volume of 458,251 shares, compared to its average volume of 796,677. The stock has a market capitalization of $911.33, a P/E ratio of 17.66, a PEG ratio of 1.62 and a beta of 0.38. NIC has a 12 month low of $12.65 and a 12 month high of $22.40.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.32 annualized dividend and a yield of 2.35%. NIC’s dividend payout ratio (DPR) is presently 41.56%.
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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