Wells Fargo & Company MN cut its holdings in Blucora Inc (NASDAQ:BCOR) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 333,760 shares of the information services provider’s stock after selling 33,844 shares during the quarter. Wells Fargo & Company MN owned about 0.70% of Blucora worth $13,433,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in BCOR. Advisory Services Network LLC purchased a new stake in Blucora in the second quarter valued at about $103,000. CIBC Asset Management Inc purchased a new position in shares of Blucora in the second quarter worth about $214,000. Tower Research Capital LLC TRC purchased a new position in shares of Blucora in the second quarter worth about $237,000. Crossmark Global Holdings Inc. purchased a new position in shares of Blucora in the second quarter worth about $266,000. Finally, Private Advisor Group LLC purchased a new position in shares of Blucora in the second quarter worth about $288,000. Institutional investors own 94.59% of the company’s stock.
Several research analysts have recently issued reports on BCOR shares. Zacks Investment Research upgraded Blucora from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, November 6th. ValuEngine cut Blucora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Barrington Research restated a “buy” rating and issued a $40.00 price objective on shares of Blucora in a research note on Monday, October 22nd. BidaskClub upgraded Blucora from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. upgraded Blucora from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $42.00 to $45.00 in a research note on Friday, September 28th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.54.
In related news, insider Michael P. Hogan bought 7,874 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $30.52 per share, with a total value of $240,314.48. Following the completion of the acquisition, the insider now directly owns 15,990 shares in the company, valued at $488,014.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert D. Oros sold 6,075 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $30.31, for a total value of $184,133.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,733 shares of company stock worth $4,016,181. 2.91% of the stock is owned by corporate insiders.
Shares of NASDAQ:BCOR opened at $29.32 on Friday. Blucora Inc has a 52-week low of $20.15 and a 52-week high of $41.35. The stock has a market capitalization of $1.43 billion, a PE ratio of 17.08, a PEG ratio of 1.04 and a beta of 0.18. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.95 and a quick ratio of 2.95.
Blucora (NASDAQ:BCOR) last announced its quarterly earnings data on Wednesday, October 31st. The information services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.10. Blucora had a return on equity of 14.56% and a net margin of 13.71%. The firm had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $94.36 million. During the same period last year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Blucora Inc will post 1.63 earnings per share for the current fiscal year.
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Blucora, Inc provides technology-enabled financial solutions to consumers, small business owners, and tax professionals 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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