Nuance Communications (NUAN) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a research note released on Tuesday. The brokerage currently has $18.00 price objective on the software maker’s stock.
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. “
A number of other equities analysts also recently weighed in on the stock. TheStreet downgraded shares of Nuance Communications from a c rating to a d+ rating in a research note on Tuesday, November 28th. Oppenheimer reaffirmed a buy rating and issued a $23.00 price target on shares of Nuance Communications in a research note on Wednesday, November 29th. Stifel Nicolaus reissued a hold rating and set a $18.00 target price (down from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Morgan Stanley reissued a buy rating and set a $18.00 target price on shares of Nuance Communications in a research report on Wednesday, November 22nd. Finally, Barclays lowered their target price on shares of Nuance Communications from $22.00 to $21.00 and set an overweight rating on the stock in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Nuance Communications currently has a consensus rating of Buy and an average target price of $20.50.
Nuance Communications (NASDAQ:NUAN) traded up $0.02 during midday trading on Tuesday, hitting $15.51. 3,162,200 shares of the stock were exchanged, compared to its average volume of 2,808,653. Nuance Communications has a 1-year low of $14.02 and a 1-year high of $19.93. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $4,496.41, a P/E ratio of 19.36, a PEG ratio of 1.60 and a beta of 0.60.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The business had revenue of $474.70 million for the quarter, compared to the consensus estimate of $457.09 million. During the same period in the prior year, the business posted $0.41 earnings per share. Nuance Communications’s revenue for the quarter was down 7.4% compared to the same quarter last year. analysts anticipate that Nuance Communications will post 0.81 EPS for the current fiscal year.
In other Nuance Communications news, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the transaction, the insider now directly owns 258,188 shares of the company’s stock, valued at $4,022,569.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Insiders have sold 15,864 shares of company stock worth $243,603 over the last three months. Company insiders own 1.67% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. boosted its holdings in Nuance Communications by 1.3% during the second quarter. Moors & Cabot Inc. now owns 11,215 shares of the software maker’s stock valued at $193,000 after acquiring an additional 140 shares during the period. Sicart Associates LLC lifted its stake in shares of Nuance Communications by 0.5% in the second quarter. Sicart Associates LLC now owns 86,925 shares of the software maker’s stock valued at $1,513,000 after buying an additional 400 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Nuance Communications by 1.0% in the second quarter. D.A. Davidson & CO. now owns 50,279 shares of the software maker’s stock valued at $875,000 after buying an additional 474 shares during the period. Wrapmanager Inc. lifted its stake in shares of Nuance Communications by 3.1% in the second quarter. Wrapmanager Inc. now owns 16,829 shares of the software maker’s stock valued at $293,000 after buying an additional 500 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of Nuance Communications by 4.0% in the second quarter. CIBC Asset Management Inc now owns 16,888 shares of the software maker’s stock valued at $294,000 after buying an additional 655 shares during the period. Institutional investors own 85.56% of the company’s stock.
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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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