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Does NIC's Trust Bust Make the Stock a Must?

Posted on June 25, 2008

NIC, Inc. (EGOV) (7.72, 481mm), a member of my watchlist, first caught my attention in late 2007 on a screen for high ROIC companies with strong balance sheets and good price and fundamental momentum. Looking at the chart, it seemed as though it was about to take out a multiyear high, which it subsequently did. Unfortunately, the CEO quit (and later left his Board Chairman position too), and the stock got slammed. It was working its way back when news Monday night resulted in a sharp sell-off yesterday. A trust that held 34% of the stock has been dissolved, leaving the owners of the tru...

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