Downgrade Alert for NIC (EGOV)
NIC (NASDAQ:EGOV) was downgraded from Outperform to Market Perform at Barrington today. The stock closed yesterday at $23.81 on volume of 853,000 shares, above average daily volume of 304,000.
NIC (NASDAQ:EGOV) defies analysts with a current price ($23.81) 20.2% above its average consensus price target of $19.00. The stock should find initial support at its 50-day moving average (MA) of $17.33 and further support at its 200-day MA of $16.71.
In the past 52 weeks, shares of NIC have traded between a low of $9.95 and a high of $24.15 and closed yesterday at $23.81, which is 139% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has risen 0.7%.
NIC Inc. provides Internet-based electronic government solutions. The Company designs, builds, and operates Internet-based portals for state and local agencies in the United States.
SmarTrend recommended that subscribers consider buying shares of NIC on July 8th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.43. Since that recommendation, shares of NIC have risen 36.6%. We continue to monitor EGOV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades nic