NIC (NASDAQ:EGOV) announced its quarterly earnings data on Wednesday. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03, Morningstar.com reports. NIC had a net margin of 15.10% and a return on equity of 24.94%. The firm had revenue of $91.60 million for the quarter, compared to analysts’ expectations of $86.45 million. During the same period last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. NIC updated its FY 2019 guidance to $0.71-0.73 EPS and its FY19 guidance to $0.71-0.73 EPS.
Shares of NASDAQ EGOV traded down $0.57 during midday trading on Friday, reaching $22.06. 1,353,759 shares of the stock were exchanged, compared to its average volume of 336,254. The business’s 50-day moving average is $16.92. The stock has a market capitalization of $1.48 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. NIC has a 12 month low of $11.76 and a 12 month high of $23.45. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.04.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.45%. NIC’s dividend payout ratio is 36.36%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in NIC by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,257,494 shares of the software maker’s stock worth $28,173,000 after acquiring an additional 56,159 shares during the period. Geode Capital Management LLC raised its holdings in NIC by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 783,318 shares of the software maker’s stock worth $9,775,000 after purchasing an additional 38,375 shares during the last quarter. Squarepoint Ops LLC purchased a new position in NIC during the fourth quarter worth $555,000. Metropolitan Life Insurance Co. NY increased its position in NIC by 372.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,496 shares of the software maker’s stock worth $268,000 after buying an additional 16,948 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in NIC during the fourth quarter worth $240,000. 87.23% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on the stock. ValuEngine raised shares of NIC from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet raised shares of NIC from a “c+” rating to a “b” rating in a research note on Thursday. Barrington Research reaffirmed a “buy” rating on shares of NIC in a research note on Wednesday, July 3rd. Loop Capital raised shares of NIC from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, DA Davidson raised shares of NIC from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.00 to $21.00 in a research note on Thursday. Six research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $20.25.
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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