Nuance Communications, Inc. (NUAN) Receives $20.38 Average Target Price from Analysts
Nuance Communications, Inc. (NASDAQ:NUAN) has received a consensus recommendation of “Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.38.
A number of equities analysts recently commented on NUAN shares. Zacks Investment Research upgraded Nuance Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub downgraded Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Morgan Stanley raised Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Thursday, November 2nd. Raymond James Financial, Inc. decreased their target price on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG decreased their target price on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th.
In related news, insider Daniel David Tempesta sold 6,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.58, for a total value of $101,270.00. Following the completion of the transaction, the insider now directly owns 258,188 shares of the company’s stock, valued at $4,022,569.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth M. Siegel sold 4,682 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $16.00, for a total value of $74,912.00. The disclosure for this sale can be found here. Insiders sold 17,682 shares of company stock valued at $280,117 over the last three months. 1.67% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Nuance Communications by 1.5% in the second quarter. Vanguard Group Inc. now owns 23,288,701 shares of the software maker’s stock worth $405,455,000 after purchasing an additional 335,427 shares during the period. Ameriprise Financial Inc. raised its stake in Nuance Communications by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 18,257,115 shares of the software maker’s stock worth $286,977,000 after acquiring an additional 637,014 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Nuance Communications by 29.4% during the third quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock worth $84,746,000 after acquiring an additional 1,224,085 shares in the last quarter. Sirios Capital Management L P raised its stake in Nuance Communications by 13.7% during the second quarter. Sirios Capital Management L P now owns 3,832,085 shares of the software maker’s stock worth $66,717,000 after acquiring an additional 462,608 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in Nuance Communications by 19.1% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,415,282 shares of the software maker’s stock worth $53,688,000 after acquiring an additional 548,875 shares in the last quarter. 85.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Nuance Communications (NUAN) traded up $0.17 on Friday, hitting $15.13. The stock had a trading volume of 1,446,195 shares, compared to its average volume of 2,370,000. Nuance Communications has a one year low of $13.61 and a one year high of $19.93. The firm has a market cap of $4,310.00, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.79 and a beta of 0.58. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.14.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). Nuance Communications had a positive return on equity of 14.73% and a negative net margin of 3.38%. The firm had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. During the same quarter in the prior year, the company posted $0.38 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. equities analysts predict that Nuance Communications will post 0.6 earnings per share for the current year.
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Nuance Communications Company Profile
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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