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NIC Inc. (EGOV) provides eGovernment services that enable governments use the Internet to provide various services to businesses and citizens in the United States.
It operates in two segments, Outsourced Portals, and Other Software & Services.
The Outsourced Portals segment 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 enable businesses and citizens to access government information online and complete transactions, including applying for a permit, retrieving government records, or filing a government-mandated form or report. This segment also provides consulting, application development, and portal management services to governments. The Other Software & Services segment provides software development and services to state and local governments, and federal agencies; develops and manages the federal motor carrier safety administrations pre-employment screening program for motor carriers using a self-funded and transaction-based business model; and designs and develops online campaign expenditure and ethics compliance systems for federal and state government agencies.
Shares have formed a bullish "flag" following the company's earnings realease. Higher share prices are expected for this stock.
52-Week Trading Range: $13.58 - $24.15
Entry Point: $22.30
Stop Loss: $21.19
Target Price: $24.53
EGOV fell below our stop loss. Positon closed at $21.14.
