February 1, 2018 Recent Memos, Stock Ideas

NIC (EGOV): Loses Its Biggest Customer (Texas) – Stock Drops 20% Instantly

As I write this, NIC (EGOV) stock is down 20% for the day. For potential buyers of the stock, there have been two developments in the last 24 hours. One, EGOV announced it lost the Texas dot org portal. It is still in the running for payment processing on behalf of the state. Texas, as a whole, accounted for 20% of EGOV’s revenue. It may have accounted for even more than 20% of the company’s profits. Two, shares of EGOV are now down 20% in...

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