Blucora, Inc. (NASDAQ:BCOR) had its price target upped by Barrington Research from $23.00 to $28.00 in a research note issued to investors on Friday, July 28th, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Barrington Research’s price objective suggests a potential upside of 19.91% from the company’s current price.
BCOR has been the subject of several other research reports. Zacks Investment Research upgraded shares of Blucora from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, May 2nd. ValuEngine cut shares of Blucora from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Benchmark Co. increased their price objective on shares of Blucora from $19.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 5th. Finally, Craig Hallum assumed coverage on shares of Blucora in a report on Wednesday, April 19th. They issued a “buy” rating and a $25.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.50.
Shares of Blucora (BCOR) opened at 23.35 on Friday. Blucora has a one year low of $10.22 and a one year high of $24.00. The firm has a 50-day moving average price of $21.61 and a 200-day moving average price of $19.01. The stock’s market cap is $1.05 billion.
Blucora (NASDAQ:BCOR) last posted its earnings results on Thursday, July 27th. The information services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. Blucora had a negative net margin of 8.03% and a positive return on equity of 11.92%. The firm had revenue of $139.20 million during the quarter, compared to analysts’ expectations of $136.07 million. During the same quarter in the prior year, the firm earned $0.55 EPS. Blucora’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Blucora will post $1.36 earnings per share for the current fiscal year.
In other news, Director Andrew Miles Snyder sold 27,100 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $20.67, for a total value of $560,157.00. Following the completion of the transaction, the director now directly owns 55,010 shares in the company, valued at $1,137,056.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Michael Emans sold 88,400 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $20.69, for a total transaction of $1,828,996.00. Following the sale, the chief financial officer now directly owns 160,457 shares of the company’s stock, valued at $3,319,855.33. The disclosure for this sale can be found here. Insiders sold 354,010 shares of company stock valued at $7,442,690 over the last quarter. Insiders own 14.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BCOR. Norges Bank acquired a new stake in Blucora during the fourth quarter valued at approximately $16,561,000. Vanguard Group Inc. increased its stake in Blucora by 28.0% in the second quarter. Vanguard Group Inc. now owns 4,629,622 shares of the information services provider’s stock worth $98,148,000 after buying an additional 1,013,363 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Blucora by 996.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 494,428 shares of the information services provider’s stock worth $10,482,000 after buying an additional 449,328 shares during the last quarter. Renaissance Technologies LLC increased its stake in Blucora by 36.2% in the second quarter. Renaissance Technologies LLC now owns 1,615,200 shares of the information services provider’s stock worth $34,242,000 after buying an additional 429,600 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Blucora by 304.4% in the second quarter. JPMorgan Chase & Co. now owns 517,475 shares of the information services provider’s stock worth $10,971,000 after buying an additional 389,529 shares during the last quarter. 84.51% of the stock is owned by institutional investors and hedge funds.
Blucora Company Profile
Blucora, Inc is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through the Wealth Management and Tax Preparation segments. The Company’s Wealth Management segment consists of HD Vest, which provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients The Company’s Tax Preparation segment provides digital do-it-yourself (DDIY) tax preparation solutions for consumers, small business owners and tax professionals.
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