NIC Inc. (NASDAQ:EGOV) declared a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Stockholders of record on Tuesday, June 11th will be paid a dividend of 0.08 per share by the software maker on Tuesday, June 25th. This represents a $0.32 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Monday, June 10th.
NIC has a dividend payout ratio of 40.5% meaning its dividend is sufficiently covered by earnings. Analysts expect NIC to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 39.0%.
Shares of EGOV stock traded up $0.06 on Wednesday, hitting $16.45. The stock had a trading volume of 268,007 shares, compared to its average volume of 413,755. The company has a market capitalization of $1.10 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.04. NIC has a 52-week low of $11.76 and a 52-week high of $18.05.
NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Monday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $85.20 million for the quarter, compared to analysts’ expectations of $82.07 million. NIC had a net margin of 15.80% and a return on equity of 26.73%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. Equities research analysts predict that NIC will post 0.73 EPS for the current year.
EGOV has been the topic of several recent analyst reports. BidaskClub raised shares of NIC from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. Zacks Investment Research cut shares of NIC from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Barrington Research raised shares of NIC from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a report on Thursday, January 31st. Loop Capital upped their price target on shares of NIC to $16.00 and gave the company a “hold” rating in a report on Thursday, January 31st. Finally, ValuEngine raised shares of NIC from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price 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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