Loop Capital analyst Joseph Vafi raised his price target for NIC Inc. to $16 following the company's Q4 results. The core business performed ahead of expectations, driven by a strong economic backdrop, rollout of more vertical services into existing state customers, specific opportunities in New Jersey, and increased traction in the federal segment, Vafi tells investors in a post-earnings research note. The analyst, despite keeping a Hold rating on the shares, continues to believe "focused M&A right now" could result in long-term market share gains for NIC "during this period of strong demand for emerging technology solutions."