NIC Inc. Plans Quarterly Dividend of $0.09 (NASDAQ:EGOV)

NIC Inc. (NASDAQ:EGOV) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Tuesday, September 8th will be paid a dividend of 0.09 per share by the software maker on Tuesday, September 22nd. This represents a $0.36 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, September 4th.

NIC has a payout ratio of 47.4% meaning its dividend is sufficiently covered by earnings. 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 $0.10 during trading on Friday, hitting $21.53. The stock had a trading volume of 5,647 shares, compared to its average volume of 323,426. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.77 and a current ratio of 2.77. The firm has a market capitalization of $1.44 billion, a P/E ratio of 29.23 and a beta of 0.33. The company’s 50-day moving average price is $22.66 and its 200 day moving average price is $22.09. NIC has a twelve month low of $15.49 and a twelve month high of $25.94.

NIC (NASDAQ:EGOV) last posted its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.20 earnings per share for the quarter, topping 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 net margin of 13.84% and a return on equity of 20.46%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. As a group, equities analysts expect that NIC will post 0.76 earnings per share for the current fiscal year.

EGOV has been the topic of several research reports. DA Davidson lowered shares of NIC from a “buy” rating to a “neutral” rating and raised their price target for the company from $22.00 to $23.00 in a report on Thursday, April 9th. Zacks Investment Research downgraded shares of NIC from a “hold” rating to a “sell” rating in a research report on Thursday, June 25th. Raymond James raised their price objective on NIC from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 28th. BidaskClub cut NIC from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 16th. Finally, Sidoti initiated coverage on NIC in a research note on Monday, April 6th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $27.00.

In related news, Director Venmal (Raji) Arasu sold 2,000 shares of NIC stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $23.02, for a total transaction of $46,040.00. Following the sale, the director now directly owns 30,957 shares in the company, valued at $712,630.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is owned by insiders.

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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