NIC Inc. (NASDAQ:EGOV) – Equities researchers at Imperial Capital boosted their FY2017 earnings estimates for shares of NIC in a report issued on Monday. Imperial Capital analyst J. Kessler now forecasts that the software maker will earn $0.73 per share for the year, up from their prior forecast of $0.70. Imperial Capital has a “Outperform” rating and a $23.00 price objective on the stock. Imperial Capital also issued estimates for NIC’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.20 EPS and FY2018 earnings at $0.76 EPS.
A number of other analysts have also recently weighed in on EGOV. Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Thursday, May 4th. DA Davidson initiated coverage on shares of NIC in a report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.29.
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NIC (NASDAQ:EGOV) traded up 1.30% on Tuesday, reaching $19.45. 23,654 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 22.75 and a beta of 0.45. NIC has a 1-year low of $18.00 and a 1-year high of $25.90. The stock’s 50 day moving average price is $19.50 and its 200 day moving average price is $21.21.
NIC (NASDAQ:EGOV) last announced its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 17.64% and a return on equity of 39.07%. The firm had revenue of $83.20 million for the quarter, compared to analyst estimates of $81.99 million. During the same period last year, the business earned $0.19 EPS. NIC’s revenue for the quarter was up 6.3% compared to the same quarter last year.
A number of institutional investors have recently added to or reduced their stakes in EGOV. Ameritas Investment Partners Inc. bought a new position in NIC during the first quarter valued at approximately $111,000. State of Alaska Department of Revenue boosted its position 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 valued at $138,000 after buying an additional 140 shares during the last quarter. SG Americas Securities LLC boosted its position in 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. boosted its position in 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, Creative Planning boosted its position in NIC by 1.1% in the first quarter. Creative Planning now owns 11,564 shares of the software maker’s stock valued at $234,000 after buying an additional 127 shares during the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $20.38, for a total transaction of $509,500.00. Following the transaction, the chief operating officer now owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.67%. NIC’s payout ratio is 37.65%.
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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