Nuance Communications’ (NUAN) “Outperform” Rating Reaffirmed at Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Nuance Communications Inc. (NASDAQ:NUAN) in a research report sent to investors on Monday morning. The firm currently has a $26.00 price target on the stock.
A number of other brokerages have also recently commented on NUAN. Deutsche Bank AG decreased their price target on Nuance Communications from $30.00 to $25.00 and set a buy rating on the stock in a research report on Tuesday, August 9th. Zacks Investment Research cut Nuance Communications from a hold rating to a sell rating in a research report on Thursday, August 11th. Barclays PLC set a $19.00 target price on Nuance Communications and gave the company a hold rating in a research report on Tuesday, August 9th. Canaccord Genuity reiterated a buy rating on shares of Nuance Communications in a research report on Friday. Finally, Raymond James Financial Inc. upgraded Nuance Communications from an outperform rating to a strong-buy rating and set a $24.00 target price on the stock in a research report on Friday. Three 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. The stock currently has a consensus rating of Buy and a consensus price target of $22.56.
Nuance Communications (NASDAQ:NUAN) opened at 16.52 on Monday. The firm’s 50-day moving average is $14.32 and its 200-day moving average is $15.29. Nuance Communications has a 52-week low of $13.44 and a 52-week high of $21.83. The firm’s market capitalization is $4.62 billion.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Thursday, November 17th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. Nuance Communications had a positive return on equity of 14.89% and a negative net margin of 0.63%. The company had revenue of $512.40 million for the quarter, compared to analysts’ expectations of $505.10 million. During the same quarter last year, the business earned $0.41 earnings per share. Nuance Communications’s revenue was down .2% on a year-over-year basis. On average, equities analysts expect that Nuance Communications will post $1.51 earnings per share for the current 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 Monday, October 3rd. The stock was sold at an average price of $14.45, for a total value of $57,800.00. Following the transaction, the vice president now directly owns 178,195 shares of the company’s stock, valued at $2,574,917.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.23% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position 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 worth $31,101,000 after buying an additional 53,731 shares during the last quarter. AMP Capital Investors Ltd raised its position in shares of Nuance Communications by 18.1% in the first quarter. AMP Capital Investors Ltd now owns 250,812 shares of the company’s stock worth $4,625,000 after buying an additional 38,374 shares during the last quarter. Legal & General Group Plc raised its position in shares of Nuance Communications by 0.9% in the first quarter. Legal & General Group Plc now owns 1,126,002 shares of the company’s stock worth $21,045,000 after buying an additional 9,558 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Nuance Communications during the first quarter worth $310,000. Finally, Panagora Asset Management Inc. raised its position in shares of Nuance Communications by 240.3% in the first quarter. Panagora Asset Management Inc. now owns 206,481 shares of the company’s stock worth $3,859,000 after buying an additional 145,812 shares during 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.
Receive News & Stock Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related stocks with our FREE daily email newsletter.