Nuance Communications, Inc. (NUAN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Nuance Communications, Inc. (NASDAQ:NUAN) from a sell rating to a hold rating in a research report report published on Thursday.
According to Zacks, “Nuance Communications, Inc. is the leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. “
NUAN has been the subject of several other research reports. Canaccord Genuity lowered their price target on Nuance Communications from $22.00 to $21.00 and set a buy rating for the company in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $23.00 price target (down previously from $26.00) on shares of Nuance Communications in a report on Thursday, August 10th. Deutsche Bank AG lowered their price target on Nuance Communications from $25.00 to $23.00 and set a buy rating for the company in a report on Wednesday, August 9th. Raymond James Financial, Inc. lowered their price target on Nuance Communications from $24.00 to $22.00 and set a strong-buy rating for the company in a report on Wednesday, August 9th. Finally, BidaskClub cut Nuance Communications from a hold rating to a sell rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $20.38.
Nuance Communications (NASDAQ NUAN) opened at 15.75 on Thursday. The firm’s 50-day moving average is $15.90 and its 200 day moving average is $17.20. The stock’s market cap is $4.55 billion. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $19.93.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). The business had revenue of $495.60 million during the quarter, compared to analysts’ expectations of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, equities research analysts expect that Nuance Communications will post $1.00 EPS for the current year.
In other news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $17.36, for a total transaction of $130,200.00. Following the completion of the sale, the insider now owns 270,810 shares in the company, valued at approximately $4,701,261.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth M. Siegel sold 4,682 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $16.00, for a total value of $74,912.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,182 shares of company stock valued at $410,317 in the last quarter. Company insiders own 1.67% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NUAN. Tower Research Capital LLC TRC acquired a new position in Nuance Communications during the 2nd quarter worth approximately $103,000. Commonwealth Bank of Australia lifted its position in Nuance Communications by 29.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after acquiring an additional 1,600 shares in the last quarter. Ledyard National Bank lifted its position in Nuance Communications by 4.8% during the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after acquiring an additional 330 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Nuance Communications by 23.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock worth $146,000 after acquiring an additional 1,600 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Nuance Communications by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock worth $178,000 after acquiring an additional 809 shares in the last quarter. 84.27% of the stock is currently owned by hedge funds and other institutional investors.
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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