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Fly News Breaks for February 2, 2018
EGOV
Feb 2, 2018 | 13:38 EDT
Loop Capital analyst Joseph Vafi lowered his price target on NIC to $14 after Q4 results showed only modest volume gains in Interactive Government Services revenue and also that the company is "bidding for only one of the two contract components that comprise the full contract renewal for the state of Texas". Vafi says he remains positive on the company's high ROIC, high margin, and recurring revenue business model, but is also concerned by reliance on SSS growth vs new logos, keeping his Hold rating.
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