Blucora (NASDAQ:BCOR) Upgraded to Hold by Zacks Investment Research

Blucora (NASDAQ:BCORGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Blucora, Inc. provides technology-enabled financial solutions to consumers, small businesses and tax professionals. The company’s products and services consist of tax preparation and wealth management, through TaxAct and HD Vest. TaxAct provides digital tax preparation solution for individuals, business owners and tax professionals. HD Vest Financial Services (R) supports an independent network of tax professionals who provide comprehensive financial planning solutions. Blucora, Inc. is based in IRVING, Texas. “

Separately, StockNews.com cut Blucora from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.00.

Shares of Blucora stock traded up $0.27 during trading on Thursday, hitting $18.09. 313,784 shares of the stock traded hands, compared to its average volume of 450,663. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.59. The stock has a market cap of $854.72 million, a price-to-earnings ratio of 64.61, a PEG ratio of 0.87 and a beta of 1.44. The firm’s fifty day moving average is $18.65 and its 200-day moving average is $18.02. Blucora has a 52 week low of $14.51 and a 52 week high of $21.40.

Blucora (NASDAQ:BCORGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The information services provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.16). Blucora had a return on equity of 19.46% and a net margin of 1.61%. The company had revenue of $307.60 million for the quarter, compared to the consensus estimate of $324.56 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. Blucora’s revenue was up 10.5% compared to the same quarter last year. On average, analysts forecast that Blucora will post 1.35 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC purchased a new position in shares of Blucora in the 4th quarter valued at approximately $27,000. Captrust Financial Advisors lifted its stake in shares of Blucora by 104.3% in the 1st quarter. Captrust Financial Advisors now owns 2,936 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 1,499 shares during the period. Econ Financial Services Corp purchased a new position in shares of Blucora in the 1st quarter valued at approximately $126,000. SG Americas Securities LLC purchased a new position in shares of Blucora in the 1st quarter valued at approximately $132,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in shares of Blucora by 23.4% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,052 shares of the information services provider’s stock valued at $203,000 after purchasing an additional 2,475 shares during the period. Institutional investors own 94.34% of the company’s stock.

About Blucora (Get Rating)

Blucora, Inc provides technology-enabled financial solutions to consumers, small business owners, tax professionals, financial advisors, and certified public accounting firms in the United States. The company operates through two segments, Wealth Management and Tax Preparation. The Wealth Management segment offers an integrated platform of brokerage, investment advisory, and insurance services to financial advisors.

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