Nuance Communications Inc. (NUAN) Given “Buy” Rating at Deutsche Bank AG
Nuance Communications Inc. (NASDAQ:NUAN)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a report issued on Friday.
NUAN has been the subject of several other research reports. Zacks Investment Research cut shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 5th. Barclays PLC set a $19.00 price target on shares of Nuance Communications and gave the company a “hold” rating in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $26.00 price target on shares of Nuance Communications in a research note on Thursday, August 11th. Canaccord Genuity reissued a “buy” rating on shares of Nuance Communications in a research note on Friday. Finally, Raymond James Financial Inc. raised shares of Nuance Communications from an “outperform” rating to a “strong-buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Nuance Communications presently has an average rating of “Buy” and an average target price of $22.38.
Shares of Nuance Communications (NASDAQ:NUAN) traded up 8.75% during trading on Friday, reaching $16.91. 13,181,921 shares of the company traded hands. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $21.83. The company’s market capitalization is $4.73 billion. The firm’s 50 day moving average price is $14.15 and its 200-day moving average price is $15.31.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The business earned $512.40 million during the quarter, compared to analysts’ expectations of $505.10 million. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts anticipate that Nuance Communications will post $1.51 EPS for the current fiscal year.
In other Nuance Communications news, VP Adam Bruce Bowden sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $13.96, for a total transaction of $55,840.00. Following the sale, the vice president now directly owns 170,195 shares in the company, valued at approximately $2,375,922.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.23% of the company’s stock.
Several large investors have recently made changes to their positions in NUAN. British Columbia Investment Management Corp raised its stake in shares of Nuance Communications by 6.1% in the second quarter. British Columbia Investment Management Corp now owns 258,793 shares of the company’s stock worth $4,045,000 after buying an additional 14,962 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Nuance Communications by 6.0% in the second quarter. BNP Paribas Arbitrage SA now owns 8,214 shares of the company’s stock worth $128,000 after buying an additional 464 shares during the last quarter. Boothbay Fund Management LLC raised its stake in shares of Nuance Communications by 56.7% in the first quarter. Boothbay Fund Management LLC now owns 15,700 shares of the company’s stock worth $293,000 after buying an additional 5,683 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Nuance Communications by 1,008.7% in the first quarter. BlueMountain Capital Management LLC now owns 20,244 shares of the company’s stock worth $378,000 after buying an additional 18,418 shares during the last quarter. Finally, Avalon Advisors LLC raised its stake in shares of Nuance Communications by 13.3% in the first quarter. Avalon Advisors LLC now owns 63,094 shares of the company’s stock worth $1,179,000 after buying an additional 7,424 shares during the last quarter. Institutional investors and hedge funds own 88.14% 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 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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