Shares of NIC Inc. (NASDAQ:EGOV) have earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.00.
A number of analysts have issued reports on the company. BidaskClub downgraded NIC from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised NIC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. ValuEngine downgraded NIC from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Barrington Research reaffirmed a “hold” rating on shares of NIC in a research note on Monday, April 30th. Finally, TheStreet downgraded NIC from a “b-” rating to a “c” rating in a research note on Thursday, March 8th.
Shares of EGOV opened at $15.60 on Friday. The company has a market cap of $1.03 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.03 and a beta of 0.52. NIC has a 12-month low of $15.20 and a 12-month high of $15.55.
NIC (NASDAQ:EGOV) last released its quarterly earnings data on Monday, April 30th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. NIC had a return on equity of 32.69% and a net margin of 15.63%. The business had revenue of $86.73 million for the quarter, compared to the consensus estimate of $87.51 million. During the same quarter in the previous year, the company posted $0.21 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. equities analysts forecast that NIC will post 0.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Tuesday, June 5th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, June 4th. NIC’s dividend payout ratio (DPR) is 41.56%.
NIC declared that its Board of Directors has approved a share buyback program on Thursday, March 8th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in EGOV. First Trust Advisors LP boosted its holdings in shares of NIC by 27,438.5% in the 4th quarter. First Trust Advisors LP now owns 3,023,180 shares of the software maker’s stock worth $50,185,000 after purchasing an additional 3,012,202 shares during the period. Freestone Capital Holdings LLC boosted its holdings in shares of NIC by 335.8% in the 1st quarter. Freestone Capital Holdings LLC now owns 1,008,698 shares of the software maker’s stock worth $13,416,000 after purchasing an additional 777,250 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of NIC in the 1st quarter worth approximately $9,989,000. Matarin Capital Management LLC purchased a new position in shares of NIC in the 1st quarter worth approximately $7,580,000. Finally, WCM Investment Management CA boosted its holdings in shares of NIC by 467.4% in the 4th quarter. WCM Investment Management CA now owns 651,045 shares of the software maker’s stock worth $10,807,000 after purchasing an additional 536,295 shares during the period. Hedge funds and other institutional investors own 98.78% of the company’s stock.
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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