NIC Inc. (EGOV) to Issue Special Dividend of $0.65 on December 9th
NIC Inc. (NASDAQ:EGOV) announced a special dividend on Friday, November 4th. Stockholders of record on Wednesday, November 16th will be paid a dividend of 0.65 per share on Friday, December 9th. The ex-dividend date is Monday, November 14th. This is a positive change from NIC’s previous special dividend of $0.55.
Shares of NIC (NASDAQ:EGOV) opened at 24.90 on Friday. NIC has a 12 month low of $14.48 and a 12 month high of $25.30. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 35.07 and a beta of 0.53. The stock has a 50 day moving average of $23.03 and a 200 day moving average of $21.92.
NIC (NASDAQ:EGOV) last issued its earnings results on Thursday, November 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. NIC had a net margin of 16.47% and a return on equity of 37.12%. The business earned $80.37 million during the quarter, compared to analysts’ expectations of $80.04 million. During the same quarter in the prior year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts expect that NIC will post $0.78 EPS for the current fiscal year.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of NIC from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Monday, November 7th. Maxim Group upped their target price on shares of NIC from $18.00 to $23.00 and gave the company a “hold” rating in a report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.00.
A number of hedge funds have recently modified their holdings of the company. Columbia Wanger Asset Management LLC boosted its stake in shares of NIC by 222.2% in the second quarter. Columbia Wanger Asset Management LLC now owns 2,334,626 shares of the company’s stock worth $51,222,000 after buying an additional 1,609,971 shares in the last quarter. Morgan Stanley boosted its stake in shares of NIC by 377.6% in the third quarter. Morgan Stanley now owns 262,852 shares of the company’s stock worth $6,177,000 after buying an additional 207,814 shares in the last quarter. Analytic Investors LLC boosted its stake in shares of NIC by 398.4% in the second quarter. Analytic Investors LLC now owns 161,900 shares of the company’s stock worth $3,552,000 after buying an additional 129,413 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of NIC by 4.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,642,912 shares of the company’s stock worth $36,045,000 after buying an additional 72,677 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of NIC by 1.3% in the second quarter. BlackRock Fund Advisors now owns 3,932,397 shares of the company’s stock worth $86,277,000 after buying an additional 49,829 shares in the last quarter. Hedge funds and other institutional investors own 88.88% of the company’s stock.
NIC Inc is a provider of digital government services that help governments use technology. The Company operates through Outsourced Portals segment. The Other Software & Services category includes its subsidiaries that provide software development and services, other than outsourced portal services, to state and local governments, as well as federal agencies.
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