Zacks: Analysts Expect NIC Inc. (NASDAQ:EGOV) to Post $0.19 Earnings Per Share

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Wall Street analysts expect that NIC Inc. (NASDAQ:EGOV) will post earnings of $0.19 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for NIC’s earnings, with estimates ranging from $0.16 to $0.21. NIC reported earnings per share of $0.24 during the same quarter last year, which suggests a negative year over year growth rate of 20.8%. The firm is expected to report its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that NIC will report full-year earnings of $0.73 per share for the current year, with EPS estimates ranging from $0.72 to $0.73. For the next financial year, analysts forecast that the firm will post earnings of $0.85 per share, with EPS estimates ranging from $0.82 to $0.91. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow NIC.

NIC (NASDAQ:EGOV) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 15.10% and a return on equity of 24.45%. The firm had revenue of $91.60 million for the quarter, compared to the consensus estimate of $86.45 million. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year.

EGOV has been the topic of a number of recent research reports. BidaskClub upgraded shares of NIC from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Barrington Research restated a “buy” rating on shares of NIC in a research report on Wednesday, July 3rd. TheStreet raised shares of NIC from a “c+” rating to a “b” rating in a report on Thursday, August 1st. DA Davidson cut shares of NIC from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Tuesday. Finally, Zacks Investment Research raised shares of NIC from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.25.

In other NIC news, Director William M. Lyons sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $20.96, for a total transaction of $209,600.00. Following the transaction, the director now owns 61,786 shares of the company’s stock, valued at approximately $1,295,034.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of NIC by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,879,493 shares of the software maker’s stock valued at $110,347,000 after purchasing an additional 29,352 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NIC by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock worth $28,173,000 after buying an additional 56,159 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NIC by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 1,868,476 shares of the software maker’s stock worth $29,969,000 after buying an additional 14,151 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of NIC by 65.5% in the second quarter. Renaissance Technologies LLC now owns 1,387,732 shares of the software maker’s stock worth $22,259,000 after buying an additional 549,000 shares during the period. Finally, BTIM Corp. boosted its holdings in shares of NIC by 0.5% in the second quarter. BTIM Corp. now owns 1,164,700 shares of the software maker’s stock worth $18,682,000 after buying an additional 5,927 shares during the period. Institutional investors own 86.57% of the company’s stock.

NASDAQ EGOV traded down $0.11 during trading hours on Thursday, reaching $20.94. 5,407 shares of the company traded hands, compared to its average volume of 396,787. NIC has a 12 month low of $11.76 and a 12 month high of $23.45. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.46 billion, a PE ratio of 23.80, a PEG ratio of 2.13 and a beta of 0.90. The company has a 50 day moving average of $20.80 and a two-hundred day moving average of $17.73.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.32 annualized dividend and a yield of 1.53%. NIC’s payout ratio is 36.36%.

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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