NIC Inc. (EGOV) Expected to Announce Quarterly Sales of $87.60 Million

Brokerages predict that NIC Inc. (NASDAQ:EGOV) will announce sales of $87.60 million for the current quarter, Zacks reports. Three analysts have issued estimates for NIC’s earnings, with the highest sales estimate coming in at $88.01 million and the lowest estimate coming in at $87.02 million. NIC posted sales of $83.18 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The business is expected to report its next quarterly earnings results on Monday, May 7th.

On average, analysts expect that NIC will report full year sales of $87.60 million for the current fiscal year, with estimates ranging from $334.28 million to $351.97 million. For the next fiscal year, analysts forecast that the firm will report sales of $327.61 million per share, with estimates ranging from $321.85 million to $333.38 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for NIC.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, January 31st. The software maker reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $83.47 million for the quarter, compared to analysts’ expectations of $81.01 million. NIC had a return on equity of 33.25% and a net margin of 15.34%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share.

Several brokerages have recently commented on EGOV. Loop Capital decreased their target price on NIC to $14.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Zacks Investment Research upgraded NIC from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. BidaskClub lowered NIC from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Maxim Group reaffirmed a “hold” rating and set a $16.00 price target on shares of NIC in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. NIC currently has a consensus rating of “Hold” and a consensus target price of $18.33.

Several institutional investors and hedge funds have recently modified their holdings of EGOV. First Trust Advisors LP lifted its stake in shares of NIC by 27,438.5% during the fourth quarter. First Trust Advisors LP now owns 3,023,180 shares of the software maker’s stock valued at $50,185,000 after acquiring an additional 3,012,202 shares during the period. WCM Investment Management CA lifted its stake in shares of NIC by 467.4% during the fourth quarter. WCM Investment Management CA now owns 651,045 shares of the software maker’s stock valued at $10,807,000 after acquiring an additional 536,295 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of NIC by 21.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,930,914 shares of the software maker’s stock valued at $32,052,000 after acquiring an additional 336,644 shares during the period. FMR LLC lifted its stake in shares of NIC by 43.0% during the second quarter. FMR LLC now owns 1,062,500 shares of the software maker’s stock valued at $20,134,000 after acquiring an additional 319,300 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of NIC by 18.5% during the third quarter. Conestoga Capital Advisors LLC now owns 2,015,893 shares of the software maker’s stock valued at $34,573,000 after acquiring an additional 314,905 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of NIC (NASDAQ:EGOV) remained flat at $$14.00 during mid-day trading on Tuesday. The company’s stock had a trading volume of 629,064 shares, compared to its average volume of 880,934. The company has a market cap of $927.77, a P/E ratio of 17.07, a PEG ratio of 1.63 and a beta of 0.38. NIC has a fifty-two week low of $12.65 and a fifty-two week high of $22.40.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, March 5th. NIC’s dividend payout ratio (DPR) is presently 39.02%.

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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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Earnings History and Estimates for NIC (NASDAQ:EGOV)

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