Nuance Communications Inc. (NUAN) Upgraded to “Strong-Buy” by Raymond James Financial Inc.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Nuance Communications from a strong sell rating to a hold rating in a research note on Wednesday, October 12th. Deutsche Bank AG dropped their price objective 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. 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. Finally, Barclays PLC set a $19.00 price objective on shares of Nuance Communications and gave the stock a hold rating in a research note on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Nuance Communications presently has an average rating of Buy and a consensus target price of $22.38.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 2.4831% during mid-day trading on Friday, reaching $16.4901. 1,394,905 shares of the company’s stock traded hands. Nuance Communications has a 12 month low of $13.44 and a 12 month high of $21.83. The stock’s market cap is $4.61 billion. The firm has a 50 day moving average price of $14.18 and a 200-day moving average price of $15.30.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Thursday, November 17th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business earned $512.40 million during the quarter, compared to the consensus estimate of $505.10 million. Nuance Communications had a negative net margin of 0.63% and a positive return on equity of 14.89%. Nuance Communications’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, analysts predict 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 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 of the company’s stock, valued at approximately $2,375,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.23% of the company’s stock.
Several large investors have recently bought and sold shares of NUAN. Geode Capital Management LLC raised its stake in Nuance Communications by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,664,966 shares of the company’s stock worth $31,101,000 after buying an additional 53,731 shares in the last quarter. Strs Ohio raised its stake in Nuance Communications by 10.5% in the second quarter. Strs Ohio now owns 4,143,417 shares of the company’s stock worth $64,761,000 after buying an additional 394,303 shares in the last quarter. Squarepoint Ops LLC raised its stake in Nuance Communications by 630.2% in the first quarter. Squarepoint Ops LLC now owns 105,883 shares of the company’s stock worth $1,979,000 after buying an additional 91,383 shares in the last quarter. Vanguard Group Inc. raised its stake in Nuance Communications by 12.9% in the second quarter. Vanguard Group Inc. now owns 19,511,687 shares of the company’s stock worth $304,969,000 after buying an additional 2,236,823 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. raised its stake in Nuance Communications by 0.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 379,276 shares of the company’s stock worth $5,928,000 after buying an additional 2,282 shares in the last quarter. 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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