Barrington Research reaffirmed their hold rating on shares of NIC (NASDAQ:EGOV) in a report issued on Monday, August 6th. Barrington Research also issued estimates for NIC’s FY2018 earnings at $0.79 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.16 EPS and FY2019 earnings at $0.72 EPS.
“We are increasing our 2019 EPS estimate to $0.72 from $0.69 reflecting the commencement of the Recreation.Gov contract in October of this year. We have a MARKET PERFORM investment rating on the shares.”,” the firm’s analyst wrote.
EGOV has been the topic of several other research reports. BidaskClub cut shares of NIC from a buy rating to a hold rating in a research note on Friday, June 8th. ValuEngine raised shares of NIC from a strong sell rating to a sell rating in a research note on Thursday, July 5th. Stephens reissued a hold rating and set a $18.00 price target on shares of NIC in a research report on Thursday, August 2nd. Loop Capital boosted their price target on shares of NIC to $17.00 and gave the company a hold rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of NIC from a sell rating to a hold rating in a research report on Wednesday, May 9th. Eight research analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average price target of $17.80.
NIC (NASDAQ:EGOV) last issued its quarterly earnings results on Wednesday, August 1st. The software maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $92.50 million during the quarter, compared to analyst estimates of $90.36 million. NIC had a net margin of 16.52% and a return on equity of 33.16%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. equities research analysts forecast that NIC will post 0.79 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Wednesday, September 5th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.90%. NIC’s payout ratio is 41.56%.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of NIC by 4.2% during the second quarter. BlackRock Inc. now owns 9,754,378 shares of the software maker’s stock worth $151,681,000 after buying an additional 396,537 shares during the period. First Trust Advisors LP increased its stake in shares of NIC by 5.2% during the second quarter. First Trust Advisors LP now owns 4,495,235 shares of the software maker’s stock worth $69,901,000 after buying an additional 223,996 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of NIC by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,160,956 shares of the software maker’s stock worth $33,603,000 after buying an additional 57,501 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in NIC by 6.6% in the second quarter. Conestoga Capital Advisors LLC now owns 1,728,243 shares of the software maker’s stock valued at $26,874,000 after purchasing an additional 106,505 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in NIC by 24.3% in the first quarter. Royal Bank of Canada now owns 1,045,338 shares of the software maker’s stock valued at $13,903,000 after purchasing an additional 204,582 shares in the last quarter. Hedge funds and other institutional investors own 94.22% of the company’s stock.
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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