NIC Inc. (NASDAQ:EGOV) – Analysts at DA Davidson raised their FY2017 earnings estimates for shares of NIC in a report issued on Thursday. DA Davidson analyst P. Heckmann now expects that the software maker will post earnings per share of $0.79 for the year, up from their previous estimate of $0.76. DA Davidson currently has a “Neutral” rating and a $18.00 target price on the stock. DA Davidson also issued estimates for NIC’s Q3 2018 earnings at $0.20 EPS.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, November 1st. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company had revenue of $84.53 million for the quarter, compared to analysts’ expectations of $83.55 million. NIC had a return on equity of 36.89% and a net margin of 16.42%. NIC’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share.

COPYRIGHT VIOLATION NOTICE: “Brokers Issue Forecasts for NIC Inc.’s FY2017 Earnings (EGOV)” was reported by Daily Political and is owned by of Daily Political. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/11/08/brokers-issue-forecasts-for-nic-inc-s-fy2017-earnings-egov.html.

Several other brokerages have also recently issued reports on EGOV. Zacks Investment Research raised NIC from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 18th. Maxim Group cut 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. Imperial Capital raised NIC from an “in-line” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Monday, July 17th. TheStreet cut NIC from a “b-” rating to a “c+” rating in a research report on Monday, August 14th. Finally, Sidoti cut 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.29.

NIC (EGOV) opened at $15.85 on Monday. The stock has a market capitalization of $1,056.99, a P/E ratio of 19.69, a P/E/G ratio of 2.05 and a beta of 0.38. NIC has a 1 year low of $15.45 and a 1 year high of $25.90.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, December 5th will be given a $0.08 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.32 annualized dividend and a yield of 2.02%. NIC’s dividend payout ratio is currently 39.51%.

A number of hedge funds have recently bought and sold shares 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 worth $154,348,000 after purchasing an additional 665,492 shares during the last quarter. Vanguard Group Inc. boosted its position in NIC by 1.0% in the second quarter. Vanguard Group Inc. now owns 5,962,692 shares of the software maker’s stock worth $112,993,000 after purchasing an additional 59,123 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in NIC by 0.4% in the second quarter. TimesSquare Capital Management LLC now owns 2,138,172 shares of the software maker’s stock worth $40,518,000 after purchasing an additional 8,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in NIC by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,085,971 shares of the software maker’s stock worth $39,529,000 after purchasing an additional 19,167 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in NIC by 18.5% in the third quarter. Conestoga Capital Advisors LLC now owns 2,015,893 shares of the software maker’s stock worth $34,573,000 after purchasing an additional 314,905 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.

About NIC

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.

Earnings History and Estimates for NIC (NASDAQ:EGOV)

Receive News & Ratings for NIC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.