Nuance Communications (NUAN) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a research report released on Tuesday.

A number of other research analysts also recently weighed in on NUAN. Zacks Investment Research upgraded shares of Nuance Communications from a sell rating to a hold rating in a research report on Thursday, June 21st. BidaskClub upgraded shares of Nuance Communications from a hold rating to a buy rating in a research report on Friday, July 20th. Stifel Nicolaus increased their price objective on shares of Nuance Communications from $15.00 to $17.00 and gave the company a hold rating in a research report on Thursday, August 9th. Barclays increased their price objective on shares of Nuance Communications from $18.00 to $20.00 and gave the company an overweight rating in a research report on Thursday, August 9th. Finally, Standpoint Research downgraded shares of Nuance Communications from a buy rating to a hold rating in a research report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $19.88.

Shares of Nuance Communications stock opened at $17.22 on Tuesday. The company has a market cap of $5.02 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.68 and a beta of 0.75. Nuance Communications has a twelve month low of $12.18 and a twelve month high of $18.75. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.35 and a current ratio of 1.35.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Wednesday, August 8th. The software maker reported $0.27 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $502.89 million for the quarter, compared to the consensus estimate of $495.53 million. Nuance Communications had a negative net margin of 9.55% and a positive return on equity of 9.67%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that Nuance Communications will post 0.75 earnings per share for the current fiscal year.

Nuance Communications declared that its board has authorized a stock buyback program on Wednesday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

In other Nuance Communications news, EVP Daniel David Tempesta sold 9,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $17.35, for a total value of $156,150.00. Following the transaction, the executive vice president now directly owns 323,994 shares in the company, valued at $5,621,295.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Weideman sold 16,675 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $17.35, for a total transaction of $289,311.25. Following the completion of the transaction, the insider now owns 420,419 shares in the company, valued at $7,294,269.65. The disclosure for this sale can be found here. Insiders sold 52,025 shares of company stock worth $877,141 over the last quarter. Insiders own 1.67% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NUAN. Criterion Capital Management LLC raised its position in Nuance Communications by 140.1% in the second quarter. Criterion Capital Management LLC now owns 6,435,017 shares of the software maker’s stock worth $89,350,000 after acquiring an additional 3,755,121 shares during the period. RGM Capital LLC purchased a new stake in shares of Nuance Communications in the second quarter worth $42,251,000. Victory Capital Management Inc. increased its stake in shares of Nuance Communications by 27.1% in the second quarter. Victory Capital Management Inc. now owns 13,050,497 shares of the software maker’s stock worth $181,205,000 after purchasing an additional 2,782,984 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Nuance Communications in the first quarter worth $14,950,000. Finally, Legal & General Group Plc increased its stake in shares of Nuance Communications by 66.4% in the first quarter. Legal & General Group Plc now owns 1,806,420 shares of the software maker’s stock worth $28,451,000 after purchasing an additional 720,617 shares in the last quarter. Institutional investors and hedge funds own 88.66% of the company’s stock.

Nuance Communications Company Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; 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.

Further Reading: What is a Call Option?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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.

Leave a Reply