NIC Inc. (EGOV) to Issue Quarterly Dividend of $0.09 on September 22nd

NIC Inc. (NASDAQ:EGOV) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders 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 dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, September 4th.

NIC has a payout ratio of 47.4% meaning its dividend is sufficiently covered by earnings. Equities 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%.

NASDAQ EGOV traded down $0.08 during trading hours on Friday, reaching $21.55. 6,228 shares of the company’s stock traded hands, compared to its average volume of 323,426. NIC has a 52-week low of $15.49 and a 52-week high of $25.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.77 and a quick ratio of 2.77. The firm has a 50-day simple moving average of $22.66 and a 200 day simple moving average of $22.09. The firm has a market cap of $1.44 billion, a PE ratio of 29.23 and a beta of 0.33.

NIC (NASDAQ:EGOV) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. NIC had a net margin of 13.84% and a return on equity of 20.46%. The business had revenue of $93.59 million during the quarter, compared to the consensus estimate of $91.22 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts forecast that NIC will post 0.76 EPS for the current fiscal year.

A number of research analysts have issued reports on EGOV shares. Sidoti began coverage on NIC in a research note on Monday, April 6th. They set a “neutral” rating for the company. Zacks Investment Research cut shares of NIC from a “hold” rating to a “sell” rating in a research note on Thursday, June 25th. Barrington Research restated a “buy” rating and set a $30.00 price objective on shares of NIC in a research note on Thursday. Raymond James lifted their target price on shares of NIC from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 28th. Finally, BidaskClub downgraded shares of NIC from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.00.

In other news, Director Venmal (Raji) Arasu sold 2,000 shares of the stock in a transaction on Friday, June 19th. The stock was sold at an average price of $23.02, for a total transaction of $46,040.00. Following the transaction, the director now directly owns 30,957 shares of the company’s stock, valued at approximately $712,630.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.70% of the company’s stock.

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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Dividend History for NIC (NASDAQ:EGOV)

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