Is NIC Inc. (EGOV)’s Fuel Running Low? The Stock Formed Bearish Double Bottom Chart Pattern

December 8, 2017 - By Louis Casey

Investors sentiment increased to 1.65 in Q2 2017. Its up 0.20, from 1.45 in 2017Q1. It improved, as 18 investors sold NIC Inc. shares while 45 reduced holdings. 29 funds opened positions while 75 raised stakes. 60.31 million shares or 0.23% more from 60.17 million shares in 2017Q1 were reported.
Advisory Llc owns 288 shares for 0% of their portfolio. Secor Advsrs Limited Partnership, New York-based fund reported 351,113 shares. Macquarie Gru Limited invested 0.01% in NIC Inc. (NASDAQ:EGOV). 36,300 were reported by Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment. Credit Suisse Ag holds 52,793 shares. Schroder Inv Management owns 55,949 shares. Jefferies Grp Incorporated Lc accumulated 39,992 shares. Los Angeles And Equity Rech has 16,817 shares for 0% of their portfolio. Wellington Management Gp Limited Liability Partnership owns 0% invested in NIC Inc. (NASDAQ:EGOV) for 158,005 shares. Principal has 510,929 shares for 0.01% of their portfolio. Bnp Paribas Arbitrage stated it has 21,060 shares. Conestoga Capital Advsrs Limited Liability Com, a Pennsylvania-based fund reported 1.70M shares. Thrivent For Lutherans, a Minnesota-based fund reported 37,710 shares. Brown Cap Mgmt Ltd Limited Liability Company accumulated 7.19 million shares or 1.67% of the stock. Moreover, D E Shaw has 0.02% invested in NIC Inc. (NASDAQ:EGOV) for 686,607 shares.

The chart of NIC Inc. (EGOV) shows a double bottom with $15.37 target or 6.00 % below today’s $16.35 share price. The 9 months chart pattern indicates high risk for the $1.08B company. It was reported on Dec, 8 by Finviz.com. If the $15.37 price target is reached, the company will be worth $65.04 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.51% or $0.4 during the last trading session, reaching $16.35. About 574,224 shares traded or 24.12% up from the average. NIC Inc. (NASDAQ:EGOV) has risen 13.72% since December 8, 2016 and is uptrending. It has underperformed by 2.98% the S&P500.

Analysts await NIC Inc. (NASDAQ:EGOV) to report earnings on February, 7. They expect $0.16 earnings per share, down 20.00 % or $0.04 from last year’s $0.2 per share. EGOV’s profit will be $10.61M for 25.55 P/E if the $0.16 EPS becomes a reality. After $0.21 actual earnings per share reported by NIC Inc. for the previous quarter, Wall Street now forecasts -23.81 % negative EPS growth.

NIC Inc. (NASDAQ:EGOV) Ratings Coverage

Among 7 analysts covering NIC (NASDAQ:EGOV), 1 have Buy rating, 1 Sell and 5 Hold. Therefore 14% are positive. NIC had 16 analyst reports since August 11, 2015 according to SRatingsIntel. Imperial Capital upgraded the shares of EGOV in report on Monday, July 17 to “Buy” rating. The rating was maintained by Maxim Group with “Hold” on Friday, August 5. The rating was downgraded by Avondale to “Mkt Underperform” on Thursday, February 2. Imperial Capital maintained NIC Inc. (NASDAQ:EGOV) on Tuesday, February 9 with “In-Line” rating. The stock of NIC Inc. (NASDAQ:EGOV) earned “Neutral” rating by Sidoti on Monday, December 19. Imperial Capital maintained it with “In-Line” rating and $22 target in Wednesday, November 18 report. Loop Capital initiated the stock with “Hold” rating in Wednesday, February 15 report. Imperial Capital maintained NIC Inc. (NASDAQ:EGOV) on Friday, November 18 with “In-Line” rating. On Friday, July 21 the stock rating was downgraded by Sidoti to “Hold”. As per Monday, August 24, the company rating was upgraded by Zacks.

More news for NIC Inc. (NASDAQ:EGOV) were recently published by: Zacks.com, which released: “Is NIC Inc. (EGOV) a Great Stock for Value Investors?” on November 10, 2017. Nasdaq.com‘s article titled: “NIC Inc. (EGOV) Ex-Dividend Date Scheduled for December 04, 2017” and published on December 01, 2017 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: