Nuance Communications, Inc. (NASDAQ:NUAN) Downgraded by BidaskClub to Strong Sell
BidaskClub lowered shares of Nuance Communications, Inc. (NASDAQ:NUAN) from a sell rating to a strong sell rating in a report issued on Thursday.
A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley restated an equal weight rating and issued a $18.00 price objective (down from $19.00) on shares of Nuance Communications in a research note on Tuesday, July 25th. Zacks Investment Research cut Nuance Communications from a hold rating to a sell rating in a research note on Tuesday, July 25th. Deutsche Bank AG restated a buy rating and issued a $25.00 price objective on shares of Nuance Communications in a research note on Monday, June 12th. Barclays PLC restated a buy rating and issued a $22.00 price objective on shares of Nuance Communications in a research note on Friday, May 12th. Finally, Stifel Nicolaus boosted their price objective on Nuance Communications from $16.00 to $19.00 and gave the company a hold rating in a research note on Wednesday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $20.89.
Nuance Communications (NUAN) traded down 0.06% during trading on Thursday, reaching $17.25. 920,290 shares of the company were exchanged. Nuance Communications has a one year low of $13.44 and a one year high of $19.93. The stock’s market capitalization is $4.96 billion. The firm’s 50 day moving average price is $17.80 and its 200-day moving average price is $17.36.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Tuesday, May 9th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The firm had revenue of $511.10 million during the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Nuance Communications will post $1.11 earnings per share for the current year.
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In other news, EVP Kenneth M. Siegel sold 3,664 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $19.05, for a total transaction of $69,799.20. Following the sale, the executive vice president now directly owns 70,824 shares in the company, valued at $1,349,197.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Adam Bruce Bowden sold 5,930 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $18.15, for a total value of $107,629.50. Following the sale, the vice president now owns 203,286 shares in the company, valued at $3,689,640.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,361 shares of company stock worth $3,756,673. Company insiders own 1.67% of the company’s stock.
Several large investors have recently made changes to their positions in NUAN. Daiwa Securities Group Inc. raised its position in shares of Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock valued at $118,000 after buying an additional 1,100 shares during the last quarter. Ledyard National Bank raised its position in shares of Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock valued at $125,000 after buying an additional 330 shares during the last quarter. IFP Advisors Inc raised its position in shares of Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock valued at $143,000 after buying an additional 400 shares during the last quarter. World Asset Management Inc acquired a new position in shares of Nuance Communications during the first quarter valued at approximately $180,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Nuance Communications during the first quarter valued at approximately $185,000. Hedge funds and other institutional investors own 85.38% of the company’s stock.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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