NIC Inc. (NASDAQ:EGOV) – Stock analysts at Barrington Research decreased their Q1 2018 EPS estimates for NIC in a research report issued to clients and investors on Tuesday. Barrington Research analyst G. Prestopino now anticipates that the software maker will earn $0.22 per share for the quarter, down from their previous forecast of $0.23. Barrington Research also issued estimates for NIC’s FY2018 earnings at $0.78 EPS.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, November 1st. The software maker reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The firm had revenue of $84.53 million during the quarter, compared to analysts’ expectations of $83.55 million. NIC had a net margin of 16.42% and a return on equity of 36.89%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS.
Several other research firms have also recently commented on EGOV. BidaskClub cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Zacks Investment Research cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. DA Davidson reiterated a “neutral” rating and set a $18.00 target price on shares of NIC in a research note on Wednesday, September 20th. Finally, Maxim Group reiterated a “hold” rating and set a $16.00 target price on shares of NIC in a research note on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.43.
NIC (EGOV) traded up $0.10 during trading hours on Thursday, reaching $17.45. 552,318 shares of the company traded hands, compared to its average volume of 978,887. The firm has a market cap of $1,160.00, a PE ratio of 21.28, a P/E/G ratio of 2.20 and a beta of 0.38. NIC has a 1 year low of $15.45 and a 1 year high of $25.70.
A number of institutional investors have recently made changes to their positions in EGOV. Schwab Charles Investment Management Inc. increased its holdings in NIC by 0.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 274,752 shares of the software maker’s stock valued at $5,207,000 after buying an additional 2,269 shares during the period. SG Americas Securities LLC increased its holdings in NIC by 120.0% in the 2nd quarter. SG Americas Securities LLC now owns 15,007 shares of the software maker’s stock valued at $284,000 after buying an additional 8,186 shares during the period. Bank of New York Mellon Corp increased its holdings in NIC by 53.4% in the 2nd 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 during the period. Legal & General Group Plc increased its holdings in NIC by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 121,946 shares of the software maker’s stock valued at $2,311,000 after buying an additional 10,344 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in NIC by 60.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,060 shares of the software maker’s stock valued at $399,000 after buying an additional 7,898 shares during the period. 93.23% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Monday, December 4th. NIC’s dividend payout ratio (DPR) is presently 39.02%.
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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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