NIC Inc. (NASDAQ:EGOV) – Analysts at Barrington Research cut their Q2 2018 earnings estimates for shares of NIC in a note issued to investors on Tuesday. Barrington Research analyst G. Prestopino now forecasts that the software maker will post earnings of $0.20 per share for the quarter, down from their previous forecast of $0.21. Barrington Research also issued estimates for NIC’s Q3 2018 earnings at $0.19 EPS.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $84.53 million for the quarter, compared to analyst estimates of $83.55 million. NIC had a net margin of 16.42% and a return on equity of 36.89%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS.
Other analysts have also issued research reports about the stock. Maxim Group restated a “hold” rating and issued a $16.00 target price on shares of NIC in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of NIC from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub lowered shares of NIC from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Finally, DA Davidson restated a “neutral” rating and issued a $18.00 target price on shares of NIC in a research report on Wednesday, September 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. NIC presently has a consensus rating of “Hold” and a consensus price target of $19.43.
NIC (NASDAQ EGOV) traded up $0.20 during midday trading on Wednesday, hitting $17.35. 505,300 shares of the company traded hands, compared to its average volume of 511,513. NIC has a twelve month low of $15.45 and a twelve month high of $25.70. The firm has a market cap of $1,150.00, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.13 and a beta of 0.38.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in NIC by 8.9% in the second quarter. BlackRock Inc. now owns 8,145,068 shares of the software maker’s stock valued at $154,348,000 after buying an additional 665,492 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of NIC by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,962,692 shares of the software maker’s stock valued at $112,993,000 after acquiring an additional 59,123 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NIC by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,099,245 shares of the software maker’s stock valued at $36,003,000 after acquiring an additional 13,274 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of NIC by 18.5% during the third quarter. Conestoga Capital Advisors LLC now owns 2,015,893 shares of the software maker’s stock valued at $34,573,000 after acquiring an additional 314,905 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of NIC by 18.0% during the third quarter. Bank of New York Mellon Corp now owns 1,594,270 shares of the software maker’s stock valued at $27,341,000 after acquiring an additional 243,084 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.84%. NIC’s dividend payout ratio is currently 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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