Nuance Communications Inc. (NASDAQ:NUAN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other analysts also recently issued research reports about the stock. Deutsche Bank AG dropped their target price on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a research report 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 report on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price objective on shares of Nuance Communications and gave the company a “hold” rating in a research report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $21.82.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 13.93 on Wednesday. The company has a 50-day moving average of $14.51 and a 200 day moving average of $16.13. The stock’s market cap is $3.90 billion. Nuance Communications has a 52-week low of $13.74 and a 52-week high of $21.83.
Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. The firm earned $484.90 million during the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities research analysts forecast that Nuance Communications will post $1.51 EPS for the current fiscal year.
In related news, VP Adam Bruce Bowden sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 178,195 shares in the company, valued at $2,574,917.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.23% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. purchased a new position in shares of Nuance Communications during the second quarter valued at about $118,000. BNP Paribas Arbitrage SA boosted its position in shares of Nuance Communications by 6.0% in the second quarter. BNP Paribas Arbitrage SA now owns 8,214 shares of the company’s stock valued at $128,000 after buying an additional 464 shares during the period. Ledyard National Bank boosted its position in shares of Nuance Communications by 5.1% in the second quarter. Ledyard National Bank now owns 8,230 shares of the company’s stock valued at $129,000 after buying an additional 400 shares during the period. MU Investments Co. Ltd. purchased a new position in shares of Nuance Communications during the second quarter valued at about $149,000. Finally, LS Investment Advisors LLC boosted its position in shares of Nuance Communications by 25.1% in the second quarter. LS Investment Advisors LLC now owns 10,189 shares of the company’s stock valued at $159,000 after buying an additional 2,044 shares during the period. Hedge funds and other institutional investors own 85.18% 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 Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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