Nuance Communications Inc. (NASDAQ:NUAN) shot up 3.6% during mid-day trading on Wednesday . The stock traded as high as $16.50 and last traded at $17.01, 219,438 shares changed hands during mid-day trading. A decline of 96% from the average session volume of 5,468,524 shares. The stock had previously closed at $16.42.
Several research firms recently issued reports on NUAN. Oppenheimer reissued a “buy” rating and issued a $23.00 target price on shares of Nuance Communications in a research note on Wednesday, December 11th. Morgan Stanley cut their target price on Nuance Communications from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wedbush reissued an “outperform” rating on shares of Nuance Communications in a research note on Friday, February 7th. Barclays reissued a “buy” rating and issued a $23.00 target price on shares of Nuance Communications in a research note on Wednesday, January 22nd. Finally, BidaskClub cut Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Nuance Communications currently has a consensus rating of “Buy” and a consensus price target of $22.20.
The company has a 50-day simple moving average of $20.27 and a two-hundred day simple moving average of $18.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $4.65 billion, a P/E ratio of 19.16, a PEG ratio of 6.48 and a beta of 0.69.
In other Nuance Communications news, EVP Daniel David Tempesta sold 15,000 shares of Nuance Communications stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $23.04, for a total transaction of $345,600.00. Following the sale, the executive vice president now directly owns 593,801 shares of the company’s stock, valued at approximately $13,681,175.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Beaudoin sold 12,355 shares of Nuance Communications stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $17.85, for a total value of $220,536.75. Following the sale, the executive vice president now directly owns 240,861 shares in the company, valued at $4,299,368.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,562 shares of company stock worth $867,493. Insiders own 0.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NUAN. Norges Bank bought a new stake in Nuance Communications during the 4th quarter valued at approximately $44,556,000. Renaissance Technologies LLC bought a new stake in shares of Nuance Communications in the 4th quarter worth approximately $40,357,000. Select Equity Group L.P. bought a new stake in shares of Nuance Communications in the 3rd quarter worth approximately $27,825,000. Senvest Management LLC boosted its position in shares of Nuance Communications by 332.8% in the 4th quarter. Senvest Management LLC now owns 1,298,275 shares of the software maker’s stock worth $23,148,000 after purchasing an additional 998,275 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Nuance Communications by 30.6% in the 4th quarter. Handelsbanken Fonder AB now owns 3,322,057 shares of the software maker’s stock worth $59,232,000 after purchasing an additional 778,486 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors and hedge funds.
Nuance Communications Company Profile (NASDAQ:NUAN)
Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.
Featured Article: CD Ladder
Receive News & Ratings for Nuance Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications and related companies with MarketBeat.com's FREE daily email newsletter.