FY2017 EPS Estimates for NIC Inc. (NASDAQ:EGOV) Boosted by Analyst
NIC Inc. (NASDAQ:EGOV) – Investment analysts at Imperial Capital lifted their FY2017 earnings per share (EPS) estimates for NIC in a research note issued on Monday. Imperial Capital analyst J. Kessler now forecasts that the software maker will post earnings per share of $0.73 for the year, up from their prior forecast of $0.70. Imperial Capital has a “Outperform” rating and a $23.00 price target on the stock. Imperial Capital also issued estimates for NIC’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.20 EPS and FY2018 earnings at $0.76 EPS.
A number of other equities research analysts have also weighed in on the company. BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, DA Davidson initiated coverage on NIC in a research note on Wednesday, June 28th. They set a “neutral” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. NIC currently has a consensus rating of “Hold” and an average target price of $22.43.
NIC (EGOV) opened at 19.20 on Tuesday. The stock has a market cap of $1.27 billion, a PE ratio of 22.46 and a beta of 0.45. NIC has a 1-year low of $18.00 and a 1-year high of $25.90. The firm has a 50-day moving average of $20.16 and a 200-day moving average of $21.78.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Monday, May 1st. The software maker reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. NIC had a net margin of 17.64% and a return on equity of 39.07%. The business had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $81.99 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were given a $0.08 dividend. The ex-dividend date was Friday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.67%. NIC’s dividend payout ratio is currently 37.65%.
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 stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the sale, the chief operating officer now owns 197,531 shares in the company, valued at $4,025,681.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in shares of NIC during the fourth quarter worth approximately $1,400,000. State Street Corp raised its stake in shares of NIC by 6.1% in the fourth quarter. State Street Corp now owns 1,443,519 shares of the software maker’s stock worth $34,504,000 after buying an additional 82,935 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of NIC by 8.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,412 shares of the software maker’s stock worth $249,000 after buying an additional 814 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of NIC by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 33,760 shares of the software maker’s stock worth $807,000 after buying an additional 2,120 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of NIC during the fourth quarter worth approximately $37,781,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.
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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