Nuance Communications Inc. (NUAN) Receives $22.13 Consensus Price Target from Analysts
Nuance Communications Inc. (NASDAQ:NUAN) has been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the company. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.63.
NUAN has been the subject of several analyst reports. Deutsche Bank AG reduced their price target on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $26.00 price target on shares of Nuance Communications in a report on Thursday, August 11th. Zacks Investment Research downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price target on shares of Nuance Communications and gave the company a “hold” rating in a report on Tuesday, August 9th.
In other Nuance Communications news, VP Adam Bruce Bowden sold 4,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the sale, the vice president now directly owns 178,195 shares in the company, valued at $2,574,917.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.23% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of NUAN. Simmons Bank acquired a new stake in shares of Nuance Communications during the first quarter valued at approximately $234,000. Geode Capital Management LLC boosted its stake in shares of Nuance Communications by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,664,966 shares of the company’s stock valued at $31,101,000 after buying an additional 53,731 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Nuance Communications by 55.2% in the first quarter. Pictet Asset Management Ltd. now owns 882,544 shares of the company’s stock valued at $17,218,000 after buying an additional 314,016 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Nuance Communications during the first quarter valued at approximately $247,000. Finally, State Street Corp boosted its stake in shares of Nuance Communications by 5.2% in the first quarter. State Street Corp now owns 4,873,300 shares of the company’s stock valued at $91,091,000 after buying an additional 239,840 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 13.79 on Monday. The firm’s market capitalization is $3.86 billion. The company has a 50-day moving average of $14.51 and a 200-day moving average of $16.11. Nuance Communications has a 52 week low of $13.74 and a 52 week high of $21.83.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Monday, August 8th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm earned $484.90 million during the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, equities analysts forecast that Nuance Communications will post $1.51 earnings per share for the current fiscal year.
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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