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EGOV

NIC Inc.

$12.77

-0.07 (-0.55%)

09:27
12/10/18
12/10
09:27
12/10/18
09:27

NIC Inc price target lowered to $13 from $15 at Loop Capital

Loop Capital analyst Joseph Vafi lowered his price target on NIC Inc to $13 and kept his Hold rating to reflect the new reality of a partial loss of the Texas contract, compounded by the building fears of an economic slowdown. In spite of the lower trending profitability for NIC, the analyst still believes that the company's "deep customer relationships and flush balance sheet" offer a significant opportunity for its shareholders, adding that a takeout of NIC by private equity is also a "viable strategic alternative".

EGOV NIC Inc.
$12.77

-0.07 (-0.55%)

11/05/18
LOOP
11/05/18
NO CHANGE
Target $15
LOOP
Hold
NIC Inc. price target lowered to $15 from $17 at Loop Capital
Loop Capital analyst Joseph Vafi lowered his price target on NIC Inc to $15 and kept his Hold rating, saying that while the Q3 earnings beat showed "incremental business opportunities in New Jersey, expansion in other states, and increased traction in the federal segment, brand new state logo opportunities remain scarce". The analyst cites the final denial on its Texas contract protest, forecasting a "material" profitability deceleration in Q4, even though he remains positive on NIC's "high margin, recurring revenue business model" longer term.
08/02/18
LOOP
08/02/18
NO CHANGE
Target $17
LOOP
Hold
NIC price target raised to $17 from $14 at Loop Capital
Loop Capital analyst Joseph Vafi raised his price target on NIC to $17 after its better than expected Q2, saying the results were driven by a price increase and a strong economic backdrop. The analyst also keeps his Hold rating, stating that while M&A in health care technology could produce a "new growth leg" for the company, new state logo opportunities are "scarce". Vafi further points to the limited visibility around its Texas contract protest effort and its potential to result in lower profitability in FY19.
02/02/18
LOOP
02/02/18
NO CHANGE
Target $14
LOOP
Hold
NIC Inc price target lowered to $14 from $17 at Loop Capital
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.
12/27/17
LOOP
12/27/17
NO CHANGE
LOOP
Loop says Federal IT services companies to see strong benefit from tax changes
Loop Capital analyst Joseph Vafi noted that federal IT services companies should see an outsized benefit from changes to the corporate tax code, stating that a reduction in the federal corporate tax rate may be offset a bit for some in the space due to the disallowance of deductibility of interest expense. He points to CACI (CACI), CSRA (CSRA), ManTech (MANT), NIC Inc. (EGOV), ICF International (ICFI) and Green Dot (GDOT) as among those who stand to benefit from the new tax law.

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