Nuance Communications Inc. (NUAN) Lowered to Strong Sell at Zacks Investment Research
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. “
Several other brokerages have also recently issued reports on NUAN. Deutsche Bank AG lowered their price objective on shares of Nuance Communications from $30.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, August 9th. Barclays PLC set a $19.00 price objective on shares of Nuance Communications and gave the company a hold rating in a research note on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $26.00 price target on shares of Nuance Communications in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $21.82.
Nuance Communications (NASDAQ:NUAN) traded down 0.21% during mid-day trading on Wednesday, reaching $14.55. The company’s stock had a trading volume of 962,231 shares. The stock’s market capitalization is $4.07 billion. The stock’s 50 day moving average price is $14.53 and its 200 day moving average price is $16.25. Nuance Communications has a 1-year low of $13.74 and a 1-year high of $21.83.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The company earned $484.90 million during the quarter, compared to analysts’ expectations of $489.54 million. During the same period in the previous year, the company earned $0.32 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts expect that Nuance Communications will post $1.51 EPS for the current fiscal year.
In other Nuance Communications news, VP Adam Bruce Bowden sold 6,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $16.03, for a total value of $96,180.00. Following the completion of the transaction, the vice president now owns 193,490 shares in the company, valued at approximately $3,101,644.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.23% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. purchased a new position in Nuance Communications during the second quarter valued at approximately $118,000. BNP Paribas Arbitrage SA boosted its position in Nuance Communications by 6.0% in the second quarter. BNP Paribas Arbitrage SA now owns 8,214 shares of the company’s stock valued at $128,000 after buying an additional 464 shares during the period. Ledyard National Bank boosted its position in Nuance Communications by 5.1% in the second quarter. Ledyard National Bank now owns 8,230 shares of the company’s stock valued at $129,000 after buying an additional 400 shares during the period. MU Investments Co. Ltd. purchased a new position in Nuance Communications during the second quarter valued at approximately $149,000. Finally, LS Investment Advisors LLC boosted its position in Nuance Communications by 25.1% in the second quarter. LS Investment Advisors LLC now owns 10,189 shares of the company’s stock valued at $159,000 after buying an additional 2,044 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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