Zacks Investment Research Downgrades Blucora (BCOR) to Hold

Blucora (NASDAQ:BCOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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. “

BCOR has been the subject of a number of other research reports. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of Blucora in a research report on Monday, November 20th. BidaskClub cut Blucora from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 6th. Finally, TheStreet cut Blucora from a “b-” rating to a “c” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $27.00.

Shares of Blucora (NASDAQ:BCOR) opened at $22.25 on Tuesday. The company has a market capitalization of $1,030.00, a price-to-earnings ratio of 741.67, a P/E/G ratio of 0.99 and a beta of -0.32. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.65. Blucora has a 1 year low of $14.25 and a 1 year high of $26.15.

Blucora (NASDAQ:BCOR) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The company had revenue of $90.20 million during the quarter, compared to analysts’ expectations of $89.72 million. Blucora had a positive return on equity of 11.94% and a negative net margin of 0.46%. Blucora’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) earnings per share. equities analysts forecast that Blucora will post 1.14 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in BCOR. Vanguard Group Inc. grew its holdings in Blucora by 28.0% during the second quarter. Vanguard Group Inc. now owns 4,629,622 shares of the information services provider’s stock valued at $98,148,000 after purchasing an additional 1,013,363 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Blucora by 996.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 494,428 shares of the information services provider’s stock valued at $10,482,000 after purchasing an additional 449,328 shares during the period. Renaissance Technologies LLC grew its holdings in Blucora by 36.2% during the second quarter. Renaissance Technologies LLC now owns 1,615,200 shares of the information services provider’s stock valued at $34,242,000 after purchasing an additional 429,600 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 389,529 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Blucora by 156.6% in the second quarter. Prudential Financial Inc. now owns 596,093 shares of the information services provider’s stock worth $12,638,000 after acquiring an additional 363,809 shares during the period. 90.58% of the stock is owned by institutional investors and hedge funds.

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About Blucora

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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