Analysts expect NIC Inc. (NASDAQ:EGOV) to report sales of $83.01 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for NIC’s earnings. The highest sales estimate is $84.00 million and the lowest is $81.49 million. NIC posted sales of $80.37 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The business is expected to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that NIC will report full-year sales of $83.01 million for the current fiscal year, with estimates ranging from $329.93 million to $336.70 million. For the next year, analysts anticipate that the firm will post sales of $355.87 million per share, with estimates ranging from $352.51 million to $357.97 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 posted its earnings results on Wednesday, August 2nd. The software maker reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $85.30 million for the quarter, compared to the consensus estimate of $83.57 million. NIC had a net margin of 17.31% and a return on equity of 38.37%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS.
Several brokerages have recently issued reports on EGOV. Zacks Investment Research cut shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. Maxim Group set a $16.00 price target on shares of NIC and gave the stock a “hold” rating in a research report on Thursday, August 3rd. DA Davidson started coverage on shares of NIC in a research note on Wednesday, June 28th. They set a “neutral” rating and a $20.00 target price on the stock. Sidoti lowered shares of NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Friday, July 21st. Finally, BidaskClub lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. NIC currently has an average rating of “Hold” and a consensus price target of $20.00.
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NIC (NASDAQ EGOV) traded down 1.087% on Tuesday, reaching $15.925. 187,202 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $17.57 and a 200-day moving average of $20.11. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 18.735 and a beta of 0.42. NIC has a one year low of $15.75 and a one year high of $25.90.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.99%. NIC’s payout ratio is 38.10%.
In related news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were 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 in the company, valued at $4,025,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after buying an additional 7,474,225 shares during the last quarter. Copeland Capital Management LLC bought a new position in shares of NIC during the first quarter valued at approximately $10,900,000. Bank of New York Mellon Corp raised its position in shares of NIC by 53.4% in the second quarter. Bank of New York Mellon Corp now owns 1,351,186 shares of the software maker’s stock valued at $25,604,000 after buying an additional 470,181 shares in the last quarter. FMR LLC raised its position in shares of NIC by 136.8% in the first quarter. FMR LLC now owns 743,200 shares of the software maker’s stock valued at $15,013,000 after buying an additional 429,400 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock valued at $119,252,000 after buying an additional 427,702 shares in the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.
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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