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. The Tax Preparation segment provides digital do-it-yourself tax preparation solutions through TaxAct.com; and ancillary services, including refund payment transfer, audit defense, stored value cards, retirement plan services, and e-filing services. This segment also offers professional tax preparer software that allows professional tax preparers to prepare and file individual and business returns. The company was formerly known as InfoSpace, Inc. and changed its name to Blucora, Inc. in June 2012. Blucora, Inc. was founded in 1996 and is headquartered in Dallas, Texas.
IPO Year:
Exchange: NASDAQ
Website: blucora.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/11/2022 | $22.00 | Overweight | Cantor Fitzgerald |
| 12/14/2021 | $27.00 → $22.00 | Overweight → Neutral | JP Morgan |
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DALLAS, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Avantax, Inc. (NASDAQ:AVTA) (formerly known as Blucora, Inc., the "Company") announced today that it has commenced a modified "Dutch auction" tender offer (the "Tender Offer") to purchase for cash up to $250 million of its common stock, par value $0.0001 per share ("Common Stock"), at a price per share not less than $27.00 and not greater than $31.00, less any applicable withholding taxes and without interest, using proceeds from the Company's recent sale of its tax software business, which closed on December 19, 2022, and borrowings under the Company's credit facility. The Tender Offer will expire at 12:00 midnight, New York City time, at the end
DALLAS, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Avantax, Inc. (NASDAQ:AVTA) (formerly known as Blucora, Inc. (NASDAQ: BCOR)), a leading provider of tax-focused wealth management services, today announced that Tabitha Bailey has been appointed Chief Legal Officer and Corporate Secretary, succeeding Ann J. Bruder, who has stepped down from her role as Chief Legal, Development and Administration Officer after nearly six years in the role. Ms. Bruder has agreed to continue to work with Avantax in a consulting role through the end of June to support the transition. "Tabitha has been a meaningful member of the Avantax team since she first joined the company, and we are very pleased to announce her ap
DALLAS, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of tax-focused wealth management services, today announced a corporate name change to Avantax, Inc. and a change of its NASDAQ ticker symbol from "BCOR" to "AVTA" effective as of 12:01 a.m. Eastern Time on Thursday, January 26, 2023 (the "Effective Date"). Despite this name change, the CUSIP number (095229100) remains unchanged. On the Effective Date, the Company's common stock will be quoted under the new name "Avantax, Inc.," and the Company's ticker symbol will be updated to "AVTA." No action is required by existing Blucora stockholders with respect to the name or ticker change. The Company's Chi
DALLAS, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Blucora, Inc. ("Blucora" or the "Company") (NASDAQ:BCOR) announced today that the Company and certain of its wholly-owned subsidiaries entered into a credit agreement (the "Amended and Restated Credit Agreement"), which amended and restated the Company's existing credit agreement, dated May 22, 2017, as amended. The Amended and Restated Credit Agreement provides for a delayed draw term loan facility of up to a maximum principal amount of $270 million and also provides for a revolving credit facility with an additional commitment amount of $50 million. The Amended and Restated Credit Agreement will allow the Company to fund shareholder repurchases
Company Has Successfully Unlocked Significant Value for Stockholders Through Sale of TaxAct and is Now a Pure-Play Wealth Management Company Company Confirms Previously Announced Plans to Return Significant Capital to Stockholders and Rebrand DALLAS, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Blucora, Inc. ("Blucora" or the "Company") (NASDAQ:BCOR) today disclosed that on January 20, 2023, Engine Capital LP (together with its affiliates, "Engine") provided notice of nomination of a candidate for election to Blucora's board of directors at the 2023 annual meeting of stockholders. Engine's candidate was previously proposed by Engine privately. The Board has engaged extensively with Engine's candida
Company Plans to Return $400 - $450 Million of Capital to Shareholders through a $250 Million Modified Dutch Auction Tender Offer and Additional Share Buyback Authorization of up to $200 Million Announces Reduction in Board Size at 2023 Annual Meeting DALLAS, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. ("Blucora" or the "Company") (NASDAQ:BCOR) today announced the completion of its previously announced sale of its tax software business, TaxAct, to an affiliate of Cinven for $720 million in cash, with after-tax net cash proceeds of approximately $620 million. Blucora expects to return $400 - $450 million of capital to shareholders and today announced its plan to repurchase up to $250
DALLAS, Nov. 30, 2022 (GLOBE NEWSWIRE) -- "Power of Community" drove the Avantax Wealth Management® National Conference 2022 in Atlanta, where the firm hosted 1,100 independent Financial Professionals, Wealth Management Assistants, Home Office staff, and Educational Partners. Avantax President Todd Mackay welcomed attendees, in a discussion about the power of the Avantax Community attributes – sharing a common vision, spirit of collaboration, and a commitment to engagement – that are driving Avantax success, including some results never before achieved by the organization. "It was a great privilege for me to stand before so many Avantax Community members and share with them that Avantax
DALLAS, Nov. 14, 2022 (GLOBE NEWSWIRE) -- A series of acquisitions has helped the Avantax® employee-based model to significantly grow total client assets and its geographic footprint. Two years ago, Avantax's employee-based model had approximately $4.4 billion in total client assets, and a national footprint with a focus on the Midwest. Now, after a series of acquisitions complemented by organic growth, the employee-based model has grown total client assets to more than $7 billion (as of Sept. 30, 2022) while expanding its footprint to the West Coast, the Northeast, the Southeast and Texas. Avantax refers to its employee-based model as Avantax Planning Partners℠. Some of the Avantax firm
DALLAS, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Avantax®, a leader in tax-focused financial planning, continued its record-breaking recruiting results as 74 independent Financial Professionals affiliated with Avantax during the third quarter of 2022, driving year-to-date newly recruited assets to approximately $1.3 billion; this is roughly $329 million more than Avantax's record performance in all of 2021. Financial Professionals are transferring to Avantax from a variety of channels, including large broker-dealers, RIAs and regional firms. Tax and accounting professionals are choosing Avantax because they continue to see the need to obtain the licensing and education so they can directly provi
DALLAS, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax focused financial solutions, today announced financial results for the third quarter ended September 30, 2022. Third Quarter Highlights and Recent Developments Avantax added newly recruited assets of $214 million during the third quarter for a total of approximately $1.3 billion during the first nine months of 2022. This exceeds full year 2021 newly recruited assets of $929 million.Avantax continued to deliver net positive asset flows with $380 million for the quarter and $810 million year to date.Blucora reported total revenue of $171.7 million, a decrease of 1% v
Cantor Fitzgerald initiated coverage of Blucora with a rating of Overweight and set a new price target of $22.00
JP Morgan downgraded Blucora from Overweight to Neutral and set a new price target of $22.00 from $27.00 previously
The Benchmark Company reiterated coverage of Blucora with a rating of Buy and set a new price target of $24.00 from $21.00 previously
JP Morgan initiated coverage of Blucora with a rating of Overweight and set a new price target of $22.00
Barrington Research reiterated coverage of Blucora with a rating of Outperform and set a new price target of $19.00 from $16.00 previously
DALLAS, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Avantax, Inc. (NASDAQ:AVTA) (formerly known as Blucora, Inc. (NASDAQ: BCOR)), a leading provider of tax-focused wealth management services, today announced that Tabitha Bailey has been appointed Chief Legal Officer and Corporate Secretary, succeeding Ann J. Bruder, who has stepped down from her role as Chief Legal, Development and Administration Officer after nearly six years in the role. Ms. Bruder has agreed to continue to work with Avantax in a consulting role through the end of June to support the transition. "Tabitha has been a meaningful member of the Avantax team since she first joined the company, and we are very pleased to announce her ap
DALLAS, March 11, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax-focused financial solutions, today announced the appointment of Kan Kotecha and Rick Leaman to the Company's Board of Directors, effective immediately. The appointments complete a search process initiated in 2021 by the Blucora Board of Directors, which was conducted with the input of Blucora's shareholders and the assistance of a leading executive search firm. Mr. Kotecha is currently a Vice President of Engineering at Google Inc. and previously served as Chief Technology Officer at Morgan Stanley Wealth Management where he led a team of over 600 professionals. He bring
DALLAS, May 05, 2021 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax focused financial solutions, today announced financial results for the first quarter ended March 31, 2021. First Quarter Highlights and Recent Developments Increased total revenue for the quarter to $278.4 million, or 6% year-over-yearGAAP Net Income of $27.6 million, or $0.56 per diluted shareNon-GAAP Net Income of $51.0 million, or $1.04 per diluted shareTotal client assets ended the quarter up 39% year over year to $84.8 billion, with $36.8 billion, or 43.4% in advisory assetsAdvisory assets increased 56% year-over-year, including the addition of approximately $5.0 billi
Provides Details Regarding Board’s Review of All Paths to Create Value for Stockholders Addresses Many of Ancora’s False and Misleading Claims Describes Ancora’s Overreaching Campaign to Replace Nearly Half of Blucora’s Independent Directors Urges Stockholders to Vote “FOR” ALL of Blucora’s Highly Qualified Directors Using BLUE Proxy Card DALLAS, March 31, 2021 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ: BCOR), a leading provider of technology-enabled, tax-focused financial solutions, today published a detailed investor presentation, describing the Company’s increasing momentum and measurable improvement under the leadership of the current Board and management team. The presen
DALLAS, March 01, 2021 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ: BCOR), a leading provider of technology-enabled, tax-focused financial solutions, today announced the appointment of Tina Perry to the Company’s Board of Directors, effective February 27, 2021. As the fourth new independent director added to the Blucora Board during the past year, Ms. Perry further strengthens the Board’s expertise as it oversees the Company’s strategy and its implementation. Currently President of OWN: Oprah Winfrey Network, Ms. Perry’s extensive experience in strategic transformations of large, complex organizations further augments the substantial expertise of the Board in other areas including fintech,
DALLAS, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax focused financial solutions, today announced financial results for the third quarter ended September 30, 2022. Third Quarter Highlights and Recent Developments Avantax added newly recruited assets of $214 million during the third quarter for a total of approximately $1.3 billion during the first nine months of 2022. This exceeds full year 2021 newly recruited assets of $929 million.Avantax continued to deliver net positive asset flows with $380 million for the quarter and $810 million year to date.Blucora reported total revenue of $171.7 million, a decrease of 1% v
Has Entered Into Definitive Agreement to Sell Tax Software Business for $720 Million in Cash Company to Use Proceeds to Pay Down Debt and Return Excess Capital to Shareholders Company to Streamline Operations and Rebrand as Avantax after the Closing of the TaxAct Transaction Blucora to Host Conference Call Today at 8:30 a.m. ET DALLAS, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. ("Blucora" or the "Company") (NASDAQ:BCOR) today announced that it has agreed to sell TaxAct, its tax software business. Under the terms of the transaction, an affiliate of Cinven will purchase TaxAct for $720 million in cash, subject to adjustment. The transaction is expected to close by the end of 2022.
DALLAS, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a provider of data and technology-driven tax software and wealth management solutions that empowers people to improve their financial wellness, will announce its third quarter 2022 financial results prior to market open on Tuesday, November 1, 2022. A conference call for members of the investment community will be held on Tuesday, November 1, 2022 at 8:30 a.m. ET during which the Company will discuss its third quarter 2022 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the Blucora corporate website at www.blucora.com. About Blucora®
DALLAS, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax focused financial solutions, today announced financial results for the second quarter ended June 30, 2022. Second Quarter Highlights and Recent Developments Avantax added newly recruited assets of $514 million during the second quarter for a total of over $1.0 billion during the first six months of 2022. This exceeds full year 2021 newly recruited assets of $929 million.Avantax continued to deliver net positive asset flows with $185 million for the quarter.Grew total revenue over 1% year over year to $256.9 million in Q2 2022 compared to $254.3 million during Q2 2021.Ended
DALLAS, July 21, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a provider of data and technology-driven tax software and wealth management solutions that empowers people to improve their financial wellness, will announce its second quarter 2022 financial results following market close on Monday, August 8, 2022. A conference call for members of the investment community will be held on Tuesday, August 9, 2022 at 8:30 a.m. ET during which the Company will discuss its second quarter 2022 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the Blucora corporate website at www.blucora.com. About Blucora®
DALLAS, May 04, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax focused financial solutions, today announced financial results for the first quarter ended March 31, 2022. First Quarter Highlights and Recent Developments Grew total revenue over 10% year over year to $307.6 million in Q1 2022.TaxAct gained 19bp of market share during the tax season - delivering on our promise at Investor Day.Avantax delivered net positive flows for the quarter, first time since Q1 2020.Ended the first quarter with total client assets of $86.1 billion, growing percent of advisory assets to 47.5%.Advisory assets at the end of the first quarter were
DALLAS, April 20, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a provider of data and technology-driven tax software and wealth management solutions that empowers people to improve their financial wellness, will announce its first quarter 2022 financial results before market open on Wednesday, May 4, 2022. A conference call for members of the investment community will be held at 8:30 a.m. ET during which the Company will discuss its first quarter 2022 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the Blucora corporate website at www.blucora.com. About Blucora® Blucora, Inc. (NASDAQ:BCOR) is
DALLAS, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Avantax®, a leader in tax-focused financial planning, has acquired Washington-based Gene Bell & Associates. The transaction expands the presence of Avantax's employee-based RIA (registered investment advisor), adds venerable tax expert and Financial Professional Gene Bell, CFP®, E.A., NTPI Fellow®, to the financial services company's management team, and helps ensure Bell's clients are well-served as they pursue their financial goals. Bell joins Avantax as Director, Tax-Smart Initiatives, reporting directly to Andy Watts, Vice President, Investment Solutions; three of Gene Bell & Associates' talented staff also become Avantax employees. Having bee
DALLAS, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Blucora, Inc. (NASDAQ:BCOR), a leading provider of technology-enabled, tax focused financial solutions, today announced financial results for the fourth quarter and full year ended December 31, 2021. Fourth Quarter and Full Year 2021 Highlights and Recent Developments Grew total revenue 17% for full year 2021 to $885.2 million.Ended year with total client assets of $89.1 billion, growing percent of advisory assets over 400bps to 47.3%. Advisory assets at year-end were $42.2 billion.Closed eight transactions, migrating nearly $2.0 billion in assets from the independent model to the employee-based RIA model.Successfully held TaxAct cons
Issues Open Letter to Fellow Shareholders Regarding the Need for Boardroom Change Following Another Year of Stagnation and Underperformance Shares Information Regarding the Company's Recent Efforts to Intimidate Engine and Once Again Undermine Corporate Democracy Launches www.ABetterPathforBlucora.com to Share Views with Respect to the Company and Communicate with Stakeholders Engine Capital LP today issued the below letter regarding its decision to nominate three highly qualified and independent candidates for election to the Board of Directors of Blucora, Inc. (NASDAQ:BCOR) at the 2022 Annual Meeting of Shareholders. *** Fellow Shareholders: Engine Capital LP (together with its aff
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