Nuance Communications Inc. (NUAN) Receives Buy Rating from Canaccord Genuity
A number of other brokerages have also issued reports on NUAN. 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. reiterated an outperform rating and issued a $26.00 price objective on shares of Nuance Communications in a research note on Thursday, August 11th. Zacks Investment Research lowered shares of Nuance Communications from a hold rating to a sell rating in a research report on Thursday, August 11th. Raymond James Financial Inc. upgraded shares of Nuance Communications from an outperform rating to a strong-buy rating in a research report on Friday. Finally, Deutsche Bank AG dropped their price target on shares of Nuance Communications from $30.00 to $25.00 and set a buy rating on the stock in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Nuance Communications has an average rating of Buy and a consensus price target of $22.38.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 1.981% during midday trading on Friday, hitting $16.575. 1,124,499 shares of the company traded hands. The stock’s market capitalization is $4.64 billion. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $21.83. The company has a 50-day moving average price of $14.19 and a 200-day moving average price of $15.30.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Thursday, November 17th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Nuance Communications had a negative net margin of 0.63% and a positive return on equity of 14.89%. The firm 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 earned $0.41 EPS. The company’s revenue was down .2% compared to the same quarter last year. Analysts anticipate that Nuance Communications will post $1.51 earnings per share for the current fiscal year.
In other Nuance Communications news, VP Adam Bruce Bowden sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $13.96, for a total value of $55,840.00. Following the transaction, the vice president now directly owns 170,195 shares of the company’s stock, valued at approximately $2,375,922.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.23% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. bought a new position in Nuance Communications during the second quarter worth $118,000. BNP Paribas Arbitrage SA boosted 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. Ledyard National Bank boosted its stake in shares of Nuance Communications by 5.1% in the second quarter. Ledyard National Bank now owns 8,230 shares of the company’s stock worth $129,000 after buying an additional 400 shares during the last quarter. Crow Point Partners LLC acquired a new stake in shares of Nuance Communications during the third quarter worth approximately $121,000. Finally, MU Investments Co. Ltd. acquired a new stake in shares of Nuance Communications during the second quarter worth approximately $149,000. 86.49% of the stock is currently owned by institutional investors.
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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