NIC Inc. to Post Q3 2017 Earnings of $0.19 Per Share, Imperial Capital Forecasts (NASDAQ:EGOV)
NIC Inc. (NASDAQ:EGOV) – Investment analysts at Imperial Capital boosted their Q3 2017 earnings per share (EPS) estimates for NIC in a research note issued on Monday. Imperial Capital analyst J. Kessler now expects that the software maker will earn $0.19 per share for the quarter, up from their previous forecast of $0.18. Imperial Capital currently has a “Outperform” rating and a $23.00 target price on the stock. Imperial Capital also issued estimates for NIC’s FY2017 earnings at $0.74 EPS, Q2 2018 earnings at $0.21 EPS and FY2018 earnings at $0.77 EPS.
Several other brokerages also recently issued reports on EGOV. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Thursday, May 4th. Maxim Group dropped their target price on NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. BidaskClub lowered NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. Sidoti lowered NIC from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Friday, July 21st. Finally, DA Davidson assumed coverage on NIC in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.00.
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Shares of NIC (NASDAQ:EGOV) opened at 16.30 on Tuesday. The stock has a market cap of $1.08 billion, a PE ratio of 19.18 and a beta of 0.42. NIC has a one year low of $15.75 and a one year high of $25.90. The stock’s 50 day moving average price is $18.52 and its 200-day moving average price is $20.67.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, August 2nd. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. NIC had a return on equity of 38.37% and a net margin of 17.31%. The business had revenue of $85.30 million during the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, September 1st. NIC’s payout ratio is currently 38.10%.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.38, for a total value of $509,500.00. Following the transaction, the chief operating officer now directly owns 197,531 shares of the company’s stock, valued at approximately $4,025,681.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of NIC during the second quarter valued at $153,000. Prudential Financial Inc. raised its position in shares of NIC by 4.9% in the second quarter. Prudential Financial Inc. now owns 354,495 shares of the software maker’s stock worth $6,718,000 after buying an additional 16,400 shares in the last quarter. American Century Companies Inc. raised its position in shares of NIC by 237.8% in the second quarter. American Century Companies Inc. now owns 138,649 shares of the software maker’s stock worth $2,627,000 after buying an additional 97,602 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of NIC by 8.1% in the second quarter. Victory Capital Management Inc. now owns 34,943 shares of the software maker’s stock worth $662,000 after buying an additional 2,611 shares in the last quarter. Finally, Marshall Wace North America L.P. raised its position in shares of NIC by 489.1% in the second quarter. Marshall Wace North America L.P. now owns 360,572 shares of the software maker’s stock worth $6,851,000 after buying an additional 299,364 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.
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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