NIC Inc. (NASDAQ:EGOV) – Analysts at DA Davidson dropped their Q3 2018 earnings per share estimates for shares of NIC in a research note issued to investors on Friday. DA Davidson analyst P. Heckmann now anticipates that the software maker will post earnings of $0.19 per share for the quarter, down from their previous estimate of $0.22. DA Davidson also issued estimates for NIC’s FY2018 earnings at $0.77 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.18 EPS, FY2019 earnings at $0.72 EPS and FY2020 earnings at $0.80 EPS.
NIC (NASDAQ:EGOV) last issued its earnings results on Wednesday, January 31st. The software maker reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. NIC had a return on equity of 33.25% and a net margin of 15.34%. The firm had revenue of $83.47 million for the quarter, compared to analysts’ expectations of $81.01 million. During the same quarter last year, the business earned $0.20 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year.
NIC (NASDAQ EGOV) opened at $14.20 on Monday. NIC has a 1-year low of $12.65 and a 1-year high of $22.40. The stock has a market capitalization of $898.08, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.65 and a beta of 0.56.
NIC announced that its Board of Directors has initiated a share buyback plan on Thursday, March 8th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Monday, March 5th. NIC’s dividend payout ratio (DPR) is presently 41.56%.
Several large investors have recently added to or reduced their stakes in EGOV. Parametric Portfolio Associates LLC lifted its holdings in shares of NIC by 13.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 67,959 shares of the software maker’s stock valued at $1,288,000 after purchasing an additional 7,942 shares in the last quarter. First Trust Advisors LP acquired a new stake in NIC in the 3rd quarter valued at approximately $188,000. Aperio Group LLC raised its position in NIC by 12.5% in the 3rd quarter. Aperio Group LLC now owns 35,804 shares of the software maker’s stock valued at $614,000 after buying an additional 3,977 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in NIC in the 3rd quarter valued at approximately $254,000. Finally, Victory Capital Management Inc. raised its position in NIC by 18.8% in the 3rd quarter. Victory Capital Management Inc. now owns 41,509 shares of the software maker’s stock valued at $712,000 after buying an additional 6,566 shares during the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.
NIC Company Profile
NIC Inc is a provider of digital government services that help governments use technology to provide services to businesses and citizens. The Company operates through Outsourced Portals segment. The Company offers its services through two channels: primary outsourced portal businesses, and software and services businesses.
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