Shares of Nuance Communications Inc. (NASDAQ:NUAN) have been assigned a consensus recommendation of “Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Nuance Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. ValuEngine upgraded Nuance Communications from a “hold” rating to a “buy” rating in a report on Tuesday, October 16th. BidaskClub upgraded Nuance Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Standpoint Research cut Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, Wedbush assumed coverage on Nuance Communications in a report on Thursday. They set an “outperform” rating and a $22.00 price target for the company.

In other news, insider Daniel David Tempesta sold 7,500 shares of Nuance Communications stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $16.30, for a total value of $122,250.00. Following the completion of the transaction, the insider now owns 332,883 shares in the company, valued at approximately $5,425,992.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Weideman sold 16,675 shares of Nuance Communications stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $17.35, for a total value of $289,311.25. Following the completion of the transaction, the insider now owns 420,419 shares of the company’s stock, valued at approximately $7,294,269.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,025 shares of company stock valued at $877,141. Company insiders own 1.24% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in Nuance Communications by 27.1% during the 2nd quarter. Victory Capital Management Inc. now owns 13,050,497 shares of the software maker’s stock valued at $181,205,000 after acquiring an additional 2,782,984 shares during the period. Criterion Capital Management LLC boosted its holdings in Nuance Communications by 140.1% during the 2nd quarter. Criterion Capital Management LLC now owns 6,435,017 shares of the software maker’s stock valued at $89,350,000 after acquiring an additional 3,755,121 shares during the period. RGM Capital LLC purchased a new position in Nuance Communications during the 2nd quarter valued at $42,251,000. Dimensional Fund Advisors LP boosted its holdings in Nuance Communications by 12.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,674,334 shares of the software maker’s stock valued at $37,132,000 after acquiring an additional 290,853 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Nuance Communications by 8.3% during the 2nd quarter. Legal & General Group Plc now owns 1,955,642 shares of the software maker’s stock valued at $27,154,000 after acquiring an additional 149,222 shares during the period. Institutional investors own 88.00% of the company’s stock.

NASDAQ NUAN traded up $0.23 during trading on Monday, hitting $17.45. 74,954 shares of the stock traded hands, compared to its average volume of 2,512,023. The stock has a market capitalization of $4.94 billion, a PE ratio of 29.09, a P/E/G ratio of 1.65 and a beta of 0.75. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.35 and a quick ratio of 1.35. Nuance Communications has a 12-month low of $12.18 and a 12-month high of $18.75.

Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Wednesday, August 8th. The software maker reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $502.89 million during the quarter, compared to analysts’ expectations of $495.53 million. Nuance Communications had a positive return on equity of 9.67% and a negative net margin of 9.55%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. On average, analysts anticipate that Nuance Communications will post 0.75 EPS for the current fiscal year.

Nuance Communications declared that its Board of Directors has approved a share buyback program on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to reacquire up to 10.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Nuance Communications Company Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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