NIC (EGOV) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

NIC (NASDAQ:EGOV) issued its quarterly earnings data on Monday. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02, Morningstar.com reports. The business had revenue of $85.20 million for the quarter, compared to analysts’ expectations of $82.07 million. NIC had a return on equity of 29.79% and a net margin of 16.89%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS.

NASDAQ:EGOV opened at $16.82 on Wednesday. NIC has a fifty-two week low of $11.76 and a fifty-two week high of $18.05. The firm has a market cap of $1.14 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.35 and a beta of 0.96.

A number of institutional investors have recently made changes to their positions in EGOV. Norges Bank bought a new position in NIC in the 4th quarter valued at $24,319,000. BlackRock Inc. grew its position in NIC by 4.6% in the 4th quarter. BlackRock Inc. now owns 9,998,406 shares of the software maker’s stock valued at $124,779,000 after acquiring an additional 442,087 shares during the last quarter. FMR LLC grew its position in NIC by 18.0% in the 4th quarter. FMR LLC now owns 2,852,872 shares of the software maker’s stock valued at $35,604,000 after acquiring an additional 434,209 shares during the last quarter. Marshall Wace LLP bought a new position in NIC in the 3rd quarter valued at $6,413,000. Finally, Weybosset Research & Management LLC bought a new position in NIC in the 1st quarter valued at $6,110,000. 88.05% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the company. Zacks Investment Research lowered NIC from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. BidaskClub upgraded NIC from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. Loop Capital increased their price target on NIC to $16.00 and gave the company a “hold” rating in a report on Thursday, January 31st. ValuEngine upgraded NIC from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Finally, DA Davidson restated a “neutral” rating on shares of NIC in a report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.75.

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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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Earnings History for NIC (NASDAQ:EGOV)

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