Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a research note published on Saturday morning, Zacks.com reports. They currently have $20.00 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 have also weighed in on NUAN. ValuEngine lowered shares of Nuance Communications from a buy rating to a hold rating in a research report on Friday, June 21st. BidaskClub lowered shares of Nuance Communications from a sell rating to a strong sell rating in a research report on Wednesday, September 4th. Finally, Wedbush reissued a buy rating and issued a $22.00 price objective on shares of Nuance Communications in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $19.67.
NASDAQ:NUAN opened at $17.37 on Friday. The firm has a 50 day simple moving average of $16.79 and a 200-day simple moving average of $16.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $4.96 billion, a PE ratio of 21.44, a P/E/G ratio of 4.28 and a beta of 0.94. Nuance Communications has a 1-year low of $12.66 and a 1-year high of $18.16.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $460.20 million during the quarter, compared to analyst estimates of $455.93 million. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. As a group, sell-side analysts expect that Nuance Communications will post 0.82 earnings per share for the current fiscal year.
In related news, EVP Thomas L. Beaudoin sold 8,301 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $16.04, for a total transaction of $133,148.04. Following the completion of the transaction, the executive vice president now owns 284,993 shares of the company’s stock, valued at $4,571,287.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Weideman sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $16.04, for a total transaction of $96,240.00. The disclosure for this sale can be found here. Insiders have sold 68,152 shares of company stock valued at $1,147,376 in the last ninety days. 0.68% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of NUAN. Tower Research Capital LLC TRC acquired a new position in Nuance Communications during the second quarter worth approximately $26,000. Bremer Bank National Association acquired a new position in Nuance Communications during the first quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. increased its position in Nuance Communications by 25.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock worth $53,000 after purchasing an additional 628 shares during the last quarter. Pinebridge Investments L.P. increased its position in Nuance Communications by 24.0% during the second quarter. Pinebridge Investments L.P. now owns 4,645 shares of the software maker’s stock worth $74,000 after purchasing an additional 900 shares during the last quarter. Finally, Neuburgh Advisers LLC increased its position in Nuance Communications by 603.8% during the second quarter. Neuburgh Advisers LLC now owns 5,856 shares of the software maker’s stock worth $93,000 after purchasing an additional 5,024 shares during the last quarter. 88.63% of the stock is owned by hedge funds and other institutional investors.
Nuance Communications Company Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; 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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