NIC (EGOV) Releases Earnings Results, Beats Expectations By $0.04 EPS

NIC (EGOV) reported quarterly earnings results on Monday, May-2-2016. The company said it had a profit of $0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.15. The company posted revenue of $78.39 million in the period, compared to analysts expectations of $74.99 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on NIC. Shares were Reiterated by Imperial Capital on Feb 9, 2016 to “In-line” and Lowered the Price Target to $ 19 from a previous price target of $22 .NIC was Downgraded by Avondale to ” Mkt Perform” on Feb 5, 2016.

NIC closed down -0.31 points or -1.72% at $17.76 with 1,74,588 shares getting traded on Wednesday. Post opening the session at $17.96, the shares hit an intraday low of $17.66 and an intraday high of $18.1 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Dec 4, 2015, Harry Herington (Chairman of the Board and CEO) sold 30,224 shares at $20.64 per share price. According to the SEC, on Nov 13, 2015, Robert W Knapp (Chief Operating Officer) sold 20,000 shares at $20.00 per share price. On Aug 31, 2015, Peter B Wilson (director) sold 33,040 shares at $18.74 per share price, according to the Form-4 filing with the securities and exchange commission.

NIC Inc. (NIC) is a provider of eGovernment services that helps governments use the Internet. The Company operates in two segments: outsourced portal businesses and software & services businesses. In the Company’s outsourced portal businesses the Company enters into long-term contracts with state and local governments to design build and operate Internet-based enterprise-wide portals on their behalf. These portals consist of Websites and applications that allow businesses and citizens to access government information online and complete secure transactions such as applying for a permit retrieving government records or filing a government-mandated form or report. The Company’s software & services businesses operates through NIC Technologies LLC (NIC Technologies) the Company’s subsidiary which provides software development and services other than outsourced portal services to state and local governments as well as federal agencies.


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