Nuance Communications Inc. (NUAN) Upgraded to Hold at Zacks Investment Research
Nuance Communications Inc. (NASDAQ:NUAN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 research analysts have also recently weighed in on NUAN. Barclays PLC set a $19.00 price objective on shares of Nuance Communications and gave the company a “hold” rating in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $26.00 price objective on shares of Nuance Communications in a report on Thursday, August 11th. Finally, Deutsche Bank AG decreased their price target 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.82.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 13.93 on Wednesday. The stock has a 50 day moving average of $14.51 and a 200-day moving average of $16.13. The firm’s market cap is $3.90 billion. 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 for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm earned $484.90 million during the quarter, compared to analysts’ expectations of $489.54 million. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. Equities analysts anticipate that Nuance Communications will post $1.51 EPS for the current fiscal year.
In related news, VP Adam Bruce Bowden sold 4,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the completion of the sale, the vice president now owns 178,195 shares in the company, valued at approximately $2,574,917.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its stake in Nuance Communications by 5.3% in the third quarter. Fisher Asset Management LLC now owns 881,786 shares of the company’s stock valued at $12,786,000 after buying an additional 44,400 shares during the period. Bremer Trust National Association acquired a new stake in Nuance Communications during the third quarter valued at approximately $981,000. BNP Paribas Arbitrage SA increased its stake in Nuance Communications by 19.0% in the third quarter. BNP Paribas Arbitrage SA now owns 9,776 shares of the company’s stock valued at $142,000 after buying an additional 1,562 shares during the period. Macquarie Group Ltd. increased its stake in Nuance Communications by 2,113.5% in the second quarter. Macquarie Group Ltd. now owns 115,100 shares of the company’s stock valued at $1,799,000 after buying an additional 109,900 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Nuance Communications by 47.8% in the second quarter. Public Employees Retirement System of Ohio now owns 90,775 shares of the company’s stock valued at $1,419,000 after buying an additional 29,360 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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