Nuance Communications (NASDAQ:NUAN) Downgraded by Zacks Investment Research to “Hold”

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Nuance Communications (NASDAQ:NUAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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 weighed in on the stock. ValuEngine lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Wedbush reaffirmed a “buy” rating and set a $22.00 target price on shares of Nuance Communications in a report on Wednesday, July 24th. Finally, BidaskClub lowered shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.67.

NASDAQ:NUAN opened at $17.01 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.94. The company has a 50 day moving average price of $16.80 and a 200-day moving average price of $16.82. Nuance Communications has a 1-year low of $12.66 and a 1-year high of $18.16.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $460.20 million during the quarter, compared to analyst estimates of $455.93 million. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. On average, sell-side analysts anticipate that Nuance Communications will post 0.82 earnings per share for the current fiscal year.

In related news, insider Robert Weideman sold 6,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $16.04, for a total value of $96,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stefan Ortmanns sold 4,268 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $18.01, for a total transaction of $76,866.68. Following the completion of the sale, the executive vice president now directly owns 184,350 shares of the company’s stock, valued at approximately $3,320,143.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,152 shares of company stock valued at $1,147,376. Insiders own 0.68% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in Nuance Communications in the 2nd quarter worth $26,000. Bremer Bank National Association purchased a new stake in Nuance Communications in the 1st quarter worth $30,000. Northwestern Mutual Wealth Management Co. increased its holdings in Nuance Communications by 25.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock worth $53,000 after acquiring an additional 628 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in Nuance Communications by 24.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,645 shares of the software maker’s stock worth $74,000 after acquiring an additional 900 shares in the last quarter. Finally, Neuburgh Advisers LLC increased its holdings in Nuance Communications by 603.8% in the 2nd quarter. Neuburgh Advisers LLC now owns 5,856 shares of the software maker’s stock worth $93,000 after acquiring an additional 5,024 shares in the last quarter. 88.63% of the stock is owned by institutional investors.

Nuance Communications Company Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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