NIC Inc. (NASDAQ:EGOV) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Tuesday, September 8th will be given a dividend of 0.09 per share by the software maker on Tuesday, September 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, September 4th.
NIC has a dividend payout ratio of 47.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect NIC to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 39.6%.
EGOV traded down $0.06 during trading on Friday, reaching $21.57. The stock had a trading volume of 4,917 shares, compared to its average volume of 323,426. The stock has a market cap of $1.44 billion, a PE ratio of 29.23 and a beta of 0.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.77 and a current ratio of 2.77. NIC has a one year low of $15.49 and a one year high of $25.94. The business has a 50-day moving average of $22.66 and a 200-day moving average of $22.09.
NIC (NASDAQ:EGOV) last released its earnings results on Wednesday, July 29th. The software maker reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The business had revenue of $93.59 million for the quarter, compared to analysts’ expectations of $91.22 million. NIC had a return on equity of 20.46% and a net margin of 13.84%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Equities research analysts forecast that NIC will post 0.76 EPS for the current fiscal year.
In related news, Director Venmal (Raji) Arasu sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $23.02, for a total value of $46,040.00. Following the sale, the director now directly owns 30,957 shares of the company’s stock, valued at $712,630.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.
A number of research analysts recently commented on the company. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 16th. DA Davidson cut NIC from a “buy” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $23.00 in a research note on Thursday, April 9th. Raymond James raised their price objective on NIC from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 28th. Barrington Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of NIC in a research note on Thursday. Finally, Zacks Investment Research cut NIC from a “hold” rating to a “sell” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.00.
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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