NIC Inc. (NASDAQ:EGOV) - Stock analysts at Barrington Research lifted their FY2017 earnings per share estimates for NIC in a research note issued to investors on Monday. Barrington Research analyst G. Prestopino now expects that the software maker will earn $0.73 per share for the year, up from their prior forecast of $0.72.
Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of NIC from a “buy” rating to a “hold” rating in a research report on Monday, July 3rd. BidaskClub lowered shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. DA Davidson started coverage on shares of NIC in a research report on Wednesday, June 28th. They set a “neutral” rating and a $20.00 target price on the stock. Maxim Group decreased their target price on shares of NIC from $21.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Finally, Imperial Capital upgraded shares of 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.00.
NIC (NASDAQ:EGOV) opened at 16.30 on Tuesday. The firm has a 50-day moving average of $18.19 and a 200-day moving average of $20.57. NIC has a one year low of $15.75 and a one year high of $25.90. The company has a market cap of $1.08 billion, a PE ratio of 19.18 and a beta of 0.42.
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 net margin of 17.31% and a return on equity of 38.37%. The firm had revenue of $85.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the company posted $0.20 earnings per share. NIC’s revenue was up 5.6% on a year-over-year basis.
The company also recently declared 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. The ex-dividend date is Friday, September 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.96%. NIC’s dividend payout ratio (DPR) is presently 38.10%.
In other NIC news, COO Robert W. Knapp sold 25,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were 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 in the company, valued at $4,025,681.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in NIC by 139,679.0% in the first quarter. BlackRock Inc. now owns 7,479,576 shares of the software maker’s stock worth $151,087,000 after buying an additional 7,474,225 shares during the period. Vanguard Group Inc. raised its position in NIC by 7.8% in the first quarter. Vanguard Group Inc. now owns 5,903,569 shares of the software maker’s stock worth $119,252,000 after buying an additional 427,702 shares during the period. Dimensional Fund Advisors LP raised its position in NIC by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,066,804 shares of the software maker’s stock worth $41,749,000 after buying an additional 14,342 shares during the period. Columbia Wanger Asset Management LLC raised its position in NIC by 20.8% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,863,706 shares of the software maker’s stock worth $37,647,000 after buying an additional 321,052 shares during the period. Finally, Conestoga Capital Advisors LLC raised its position in NIC by 3.7% in the second quarter. Conestoga Capital Advisors LLC now owns 1,700,988 shares of the software maker’s stock worth $32,234,000 after buying an additional 60,970 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.
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.
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