Nuance Communications Inc. (NUAN) Given Consensus Recommendation of “Hold” by Brokerages
Nuance Communications Inc. (NASDAQ:NUAN) has earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.38.
NUAN has been the topic of several research analyst reports. Barclays PLC reissued a “buy” rating and set a $22.00 target price on shares of Nuance Communications in a research report on Friday, May 12th. Zacks Investment Research raised shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and set a $25.00 target price on shares of Nuance Communications in a research report on Monday, June 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th.
In other news, CEO Paul Ricci sold 139,267 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total value of $2,659,999.70. Following the sale, the chief executive officer now directly owns 2,090,036 shares of the company’s stock, valued at approximately $39,919,687.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel David Tempesta sold 8,500 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $18.61, for a total transaction of $158,185.00. Following the completion of the sale, the insider now directly owns 286,810 shares in the company, valued at $5,337,534.10. The disclosure for this sale can be found here. Insiders sold a total of 163,767 shares of company stock worth $3,098,095 over the last ninety days. Insiders own 1.67% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in Nuance Communications by 15.6% in the second quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock valued at $306,763,000 after buying an additional 2,383,671 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Nuance Communications during the first quarter valued at about $28,801,000. Marshall Wace North America L.P. purchased a new position in Nuance Communications during the first quarter valued at about $28,801,000. GMT Capital Corp purchased a new position in Nuance Communications during the first quarter valued at about $25,255,000. Finally, Pictet Asset Management Ltd. boosted its position in Nuance Communications by 49.3% in the first quarter. Pictet Asset Management Ltd. now owns 3,942,822 shares of the software maker’s stock valued at $68,250,000 after buying an additional 1,302,167 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.
Nuance Communications (NASDAQ:NUAN) traded down 1.31% during trading on Tuesday, reaching $15.83. The company’s stock had a trading volume of 1,249,090 shares. Nuance Communications has a one year low of $13.44 and a one year high of $19.93. The firm’s market cap is $4.57 billion. The company has a 50-day moving average of $16.82 and a 200 day moving average of $17.44.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by $0.09. The firm had revenue of $495.60 million for the quarter, compared to the consensus estimate of $495.57 million. Nuance Communications had a negative return on equity of 5.72% and a negative net margin of 5.72%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. Analysts expect that Nuance Communications will post $1.00 EPS for the current fiscal year.
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About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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