“We expect share gains in 2018 as solid growth in the financial services, technology and retail verticals more than offset continued weakness in communications. The weakness in communications is due to several factors, including a maturing end market, greater use of mobile self?help apps and less pricing changes to mobile plans. Further, the differentiation and value provided by Clearlink (CL) should help Sykes add new brands. Importantly, Sykes can cross?sell its contact center services to (new and existing) CL clients.”,” Barrington Research’s analyst commented.
EGOV has been the subject of a number of other reports. Zacks Investment Research upgraded NIC from a hold rating to a buy rating and set a $20.00 price target for the company in a research note on Monday, December 25th. BidaskClub downgraded NIC from a hold rating to a sell rating in a research note on Friday, December 29th. Finally, Loop Capital cut their price target on NIC to $14.00 and set a hold rating for the company in a research note on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $18.33.
NIC (NASDAQ:EGOV) last released its quarterly earnings results on Wednesday, January 31st. The software maker reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. The business had revenue of $83.47 million during the quarter, compared to the consensus estimate of $81.01 million. NIC had a return on equity of 33.25% and a net margin of 15.34%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. equities analysts forecast that NIC will post 0.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.25%. NIC’s dividend payout ratio (DPR) is presently 41.56%.
NIC declared that its Board of Directors has initiated a share buyback plan on Thursday, March 8th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Large investors have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new position in shares of NIC during the 3rd quarter valued at approximately $183,000. First Trust Advisors LP bought a new position in shares of NIC during the 3rd quarter valued at approximately $188,000. Commerce Bank bought a new position in shares of NIC during the 4th quarter valued at approximately $199,000. American Capital Management Inc. bought a new position in shares of NIC during the 4th quarter valued at approximately $205,000. Finally, Ramsey Quantitative Systems bought a new position in shares of NIC during the 4th quarter valued at approximately $237,000. Institutional investors own 98.66% of the company’s stock.
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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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