Nuance Communications Inc. (NUAN) Lifted to “Buy” at Zacks Investment Research
Nuance Communications Inc. (NASDAQ:NUAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $18.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.04% from the company’s current price.
According to Zacks, “Nuance Communications, Inc. is the leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. “
Several other equities analysts have also recently commented on NUAN. Barclays PLC set a $19.00 target price on shares of Nuance Communications and gave the company a “hold” rating in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Nuance Communications in a research note on Thursday, August 11th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Nuance Communications in a research note on Friday, November 18th. Canaccord Genuity reaffirmed a “buy” rating on shares of Nuance Communications in a research note on Friday, November 18th. Finally, Raymond James Financial Inc. raised shares of Nuance Communications from an “outperform” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Friday, November 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.44.
Nuance Communications (NASDAQ:NUAN) opened at 16.21 on Thursday. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $21.83. The stock’s market cap is $4.67 billion. The company’s 50 day moving average is $14.57 and its 200 day moving average is $15.28.
Nuance Communications (NASDAQ:NUAN) last released its earnings results on Thursday, November 17th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The firm had revenue of $512.40 million for the quarter, compared to analysts’ expectations of $505.10 million. Nuance Communications had a negative net margin of 0.63% and a positive return on equity of 14.93%. Nuance Communications’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Equities analysts predict that Nuance Communications will post $1.51 earnings per share for the current year.
In related news, EVP Kenneth M. Siegel sold 6,243 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $16.72, for a total transaction of $104,382.96. Following the completion of the sale, the executive vice president now directly owns 89,494 shares in the company, valued at $1,496,339.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Adam Bruce Bowden sold 4,000 shares of the firm’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 transaction of $57,800.00. Following the sale, the vice president now owns 178,195 shares of the company’s stock, valued at $2,574,917.75. The disclosure for this sale can be found here. Corporate insiders own 2.23% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Nuance Communications during the second quarter valued at approximately $118,000. Crow Point Partners LLC acquired a new stake in Nuance Communications during the third quarter worth about $121,000. 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 worth $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 worth $129,000 after buying an additional 400 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Nuance Communications during the third quarter worth about $143,000. Institutional investors and hedge funds own 85.99% 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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