NIC Inc. (EGOV) Expected to Post Quarterly Sales of $76.40 Million

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Wall Street analysts expect NIC Inc. (NASDAQ:EGOV) to announce $76.40 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for NIC’s earnings, with the highest sales estimate coming in at $79.43 million and the lowest estimate coming in at $72.29 million. NIC posted sales of $83.47 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.5%. The company is scheduled to issue its next earnings results on Wednesday, January 30th.

On average, analysts expect that NIC will report full year sales of $339.45 million for the current fiscal year, with estimates ranging from $336.05 million to $343.75 million. For the next financial year, analysts anticipate that the business will report sales of $334.40 million, with estimates ranging from $324.87 million to $343.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow NIC.

NIC (NASDAQ:EGOV) last released its quarterly earnings results on Thursday, November 1st. The software maker reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.07. The company had revenue of $87.03 million during the quarter, compared to analyst estimates of $83.06 million. NIC had a return on equity of 32.21% and a net margin of 16.94%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.21 earnings per share.

Several research analysts recently commented on EGOV shares. BidaskClub lowered NIC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. ValuEngine upgraded NIC from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Loop Capital boosted their target price on NIC to $17.00 and gave the company a “hold” rating in a research report on Thursday, August 2nd. Stephens restated a “hold” rating and set a $18.00 target price on shares of NIC in a research report on Thursday, August 2nd. Finally, Barrington Research restated a “hold” rating on shares of NIC in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.67.

Several large investors have recently made changes to their positions in EGOV. Dimensional Fund Advisors LP boosted its stake in NIC by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,103,455 shares of the software maker’s stock valued at $27,976,000 after buying an additional 18,371 shares in the last quarter. UBS Group AG grew its position in NIC by 37.9% during the 1st quarter. UBS Group AG now owns 244,521 shares of the software maker’s stock worth $3,252,000 after purchasing an additional 67,199 shares during the period. Millennium Management LLC grew its position in NIC by 54.7% during the 1st quarter. Millennium Management LLC now owns 193,933 shares of the software maker’s stock worth $2,579,000 after purchasing an additional 68,550 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in NIC during the 1st quarter worth about $168,000. Finally, Principal Financial Group Inc. grew its position in NIC by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 545,760 shares of the software maker’s stock worth $7,259,000 after purchasing an additional 15,642 shares during the period. Institutional investors and hedge funds own 87.80% of the company’s stock.

EGOV traded up $0.41 on Friday, hitting $13.92. The company had a trading volume of 645,419 shares, compared to its average volume of 373,237. The firm has a market cap of $931.84 million, a P/E ratio of 18.08, a P/E/G ratio of 1.74 and a beta of 0.71. NIC has a 12-month low of $12.65 and a 12-month high of $18.90.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Tuesday, December 4th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 3rd. This represents a $0.32 annualized dividend and a dividend yield of 2.30%. NIC’s dividend payout ratio (DPR) is presently 41.56%.

NIC Company Profile

NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.

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Earnings History and Estimates for NIC (NASDAQ:EGOV)

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