NIC (NASDAQ:EGOV) Issues Earnings Results
NIC (NASDAQ:EGOV) released its quarterly earnings data on Wednesday. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03, MarketWatch Earnings reports. The firm had revenue of $93.59 million for the quarter, compared to analysts’ expectations of $91.22 million. NIC had a net margin of 13.84% and a return on equity of 20.46%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. NIC updated its FY 2020
After-Hours guidance to 0.76-0.76 EPS and its FY20 guidance to $0.76 EPS.
Shares of NASDAQ:EGOV traded down $0.05 during trading on Friday, reaching $21.58. The company’s stock had a trading volume of 10,397 shares, compared to its average volume of 323,426. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 0.03. NIC has a 12 month low of $15.49 and a 12 month high of $25.94. The firm’s 50 day simple moving average is $22.66 and its two-hundred day simple moving average is $22.09. The stock has a market capitalization of $1.44 billion, a PE ratio of 29.23 and a beta of 0.33.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, September 4th. NIC’s payout ratio is 46.75%.
Several research firms have recently issued reports on EGOV. DA Davidson cut shares of NIC from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $22.00 to $23.00 in a research report on Thursday, April 9th. Zacks Investment Research cut shares of NIC from a “hold” rating to a “sell” rating in a research report on Thursday, June 25th. Raymond James lifted their price objective on shares of NIC from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 28th. Sidoti began coverage on shares of NIC in a research report on Monday, April 6th. They set a “neutral” rating on the stock. Finally, BidaskClub cut shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. NIC presently has an average rating of “Hold” and a consensus target price of $27.00.
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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