Blucora, Inc. (BCOR) Position Increased by ClariVest Asset Management LLC
ClariVest Asset Management LLC raised its position in shares of Blucora, Inc. (NASDAQ:BCOR) by 52.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 549,837 shares of the information services provider’s stock after buying an additional 188,249 shares during the period. ClariVest Asset Management LLC’s holdings in Blucora were worth $11,655,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Blucora during the fourth quarter worth approximately $16,561,000. State of Tennessee Treasury Department increased its stake in Blucora by 9.9% in the first quarter. State of Tennessee Treasury Department now owns 36,123 shares of the information services provider’s stock worth $625,000 after buying an additional 3,248 shares during the period. Ameriprise Financial Inc. increased its stake in Blucora by 39.8% in the first quarter. Ameriprise Financial Inc. now owns 273,460 shares of the information services provider’s stock worth $4,731,000 after buying an additional 77,897 shares during the period. Credit Agricole S A increased its stake in Blucora by 30,966.7% in the first quarter. Credit Agricole S A now owns 932 shares of the information services provider’s stock worth $356,000 after buying an additional 929 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Blucora by 7.5% in the first quarter. Renaissance Technologies LLC now owns 1,185,600 shares of the information services provider’s stock worth $20,511,000 after buying an additional 82,900 shares during the period. 82.98% of the stock is owned by institutional investors.
Blucora, Inc. (BCOR) opened at 23.10 on Friday. The firm’s market cap is $1.04 billion. Blucora, Inc. has a 1-year low of $10.22 and a 1-year high of $24.00. The stock’s 50 day moving average price is $21.46 and its 200 day moving average price is $18.81.
Blucora (NASDAQ:BCOR) last issued its quarterly earnings data on Thursday, July 27th. The information services provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. The business had revenue of $139.20 million for the quarter, compared to analyst estimates of $136.07 million. Blucora had a positive return on equity of 11.92% and a negative net margin of 8.03%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities research analysts predict that Blucora, Inc. will post $1.36 EPS for the current year.
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BCOR has been the subject of a number of recent analyst reports. Zacks Investment Research raised Blucora from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, May 2nd. Barrington Research raised their target price on Blucora from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, July 28th. ValuEngine downgraded Blucora from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Benchmark Co. lifted their price target on Blucora from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Craig Hallum initiated coverage on Blucora in a research note on Wednesday, April 19th. They set a “buy” rating and a $25.00 price target for the company. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $25.50.
In other Blucora news, CFO Eric Michael Emans sold 69,480 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $20.52, for a total value of $1,425,729.60. Following the sale, the chief financial officer now owns 176,177 shares of the company’s stock, valued at approximately $3,615,152.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Miles Snyder sold 27,100 shares of the firm’s 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 sale, the director now directly owns 55,010 shares in the company, valued at approximately $1,137,056.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 434,906 shares of company stock worth $9,160,511. 14.10% of the stock is currently owned by insiders.
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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