NIC Inc. (EGOV) saw a big move last session, as the company’s shares fell by more than 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for EGOV, as the stock is now down over 25% since Jan 15.
This slump shouldn’t be too much of a surprise to investors, as this software application provider has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
EGOV currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Better-ranked stocks in the same sector include Constant Contact, Inc. (CTCT), E2open, Inc. (EOPN) and OpenTable, Inc. (OPEN). All these stocks carry a Zacks Rank #2 (Buy).
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