Analysts Set Nuance Communications Inc. (NUAN) Target Price at $22.63
Shares of Nuance Communications Inc. (NASDAQ:NUAN) have received an average recommendation of “Buy” from the ten analysts that are covering the firm. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.63.
A number of equities analysts recently commented on NUAN shares. Deutsche Bank AG decreased their target price on Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Zacks Investment Research upgraded Nuance Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 12th. Barclays PLC set a $19.00 target price on Nuance Communications and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $26.00 target price on shares of Nuance Communications in a report on Thursday, August 11th.
In other news, VP Adam Bruce Bowden sold 4,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $13.96, for a total value of $55,840.00. Following the sale, the vice president now directly owns 170,195 shares of the company’s stock, valued at $2,375,922.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.23% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in NUAN. Advisor Group Inc. bought a new stake in Nuance Communications during the second quarter worth approximately $118,000. BNP Paribas Arbitrage SA boosted its stake 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 stake 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. Crow Point Partners LLC acquired a new stake in Nuance Communications during the third quarter valued at approximately $121,000. Finally, MU Investments Co. Ltd. acquired a new stake in Nuance Communications during the second quarter valued at approximately $149,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.
Nuance Communications (NASDAQ:NUAN) opened at 15.44 on Monday. Nuance Communications has a 12-month low of $13.44 and a 12-month high of $21.83. The firm’s 50-day moving average is $14.16 and its 200-day moving average is $15.31. The stock’s market capitalization is $4.32 billion.
About Nuance Communications
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 Company offers its customers solutions in automated speech recognition; capabilities for natural language understanding; dialog and information management; biometric speaker authentication; text-to-speech; optical character recognition (OCR) capabilities, and domain knowledge, along with professional services and implementation support.
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