NIC (NASDAQ:EGOV) released its earnings results on Monday, May 6th. The software maker reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02, Morningstar.com reports. The firm had revenue of $85.20 million during the quarter, compared to analysts’ expectations of $82.07 million. NIC had a return on equity of 26.73% and a net margin of 15.80%. NIC’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS.
NASDAQ:EGOV traded down $0.17 during trading hours on Wednesday, reaching $16.03. 118,588 shares of the company traded hands, compared to its average volume of 400,921. The stock has a market cap of $1.08 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.80 and a current ratio of 2.80. NIC has a 1-year low of $11.76 and a 1-year high of $18.05.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, June 10th. NIC’s dividend payout ratio (DPR) is presently 36.36%.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in NIC by 2.6% during the 1st quarter. BlackRock Inc. now owns 10,257,368 shares of the software maker’s stock valued at $175,300,000 after buying an additional 258,962 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NIC by 2.1% during the third quarter. Vanguard Group Inc. now owns 6,758,293 shares of the software maker’s stock worth $100,023,000 after purchasing an additional 138,642 shares during the last quarter. Vanguard Group Inc raised its position in shares of NIC by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 6,758,293 shares of the software maker’s stock worth $100,023,000 after buying an additional 138,642 shares during the period. FMR LLC raised its position in shares of NIC by 18.0% in the 4th quarter. FMR LLC now owns 2,852,872 shares of the software maker’s stock worth $35,604,000 after buying an additional 434,209 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of NIC by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,272,657 shares of the software maker’s stock worth $38,840,000 after buying an additional 15,163 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.
A number of analysts recently issued reports on the company. Zacks Investment Research cut NIC from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Barrington Research raised NIC from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a research note on Thursday, January 31st. Loop Capital increased their target price on NIC to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 31st. ValuEngine raised NIC from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, BidaskClub raised NIC from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $19.75.
NIC Company Profile
NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.
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