Nuance Communications (NASDAQ:NUAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $18.00 target price on the software maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.20% from the stock’s current price.
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. “
A number of other research firms also recently commented on NUAN. Barclays reduced their price objective on shares of Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, August 9th. Raymond James Financial dropped their target price on shares of 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. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Oppenheimer reiterated a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a research report on Wednesday, November 29th. Finally, TheStreet cut shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.50.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, November 28th. The software maker reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The company had revenue of $474.70 million for the quarter, compared to analyst estimates of $457.09 million. During the same quarter in the prior year, the business posted $0.41 EPS. Nuance Communications’s quarterly revenue was down 7.4% on a year-over-year basis. research analysts expect that Nuance Communications will post 0.81 EPS for the current fiscal year.
In other news, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were 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 owns 258,188 shares of the company’s stock, valued at $4,022,569.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,864 shares of company stock worth $243,603. Corporate insiders own 1.67% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in shares of Nuance Communications in the 2nd quarter valued at approximately $103,000. Commonwealth Bank of Australia grew its position in shares of Nuance Communications by 29.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock valued at $121,000 after buying an additional 1,600 shares during the last quarter. Exane Derivatives grew its position in Nuance Communications by 250.3% in the 3rd quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock worth $130,000 after purchasing an additional 5,912 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Nuance Communications by 23.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock worth $146,000 after acquiring an additional 1,600 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Nuance Communications during the third quarter valued at approximately $149,000. 85.56% of the stock is owned by hedge funds and other institutional investors.
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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