Zacks Investment Research Upgrades Nuance Communications (NUAN) to Buy

Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $20.00 target price on the software maker’s stock.

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 analysts also recently commented on the stock. BidaskClub raised shares of Nuance Communications from a sell rating to a hold rating in a report on Tuesday. ValuEngine raised shares of Nuance Communications from a hold rating to a buy rating in a report on Thursday, May 9th. Wedbush reiterated a buy rating and issued a $22.00 target price on shares of Nuance Communications in a research note on Thursday, May 9th. Finally, Morgan Stanley cut shares of Nuance Communications from an overweight rating to an equal weight rating and decreased their target price for the company from $19.00 to $17.00 in a research note on Tuesday, January 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Nuance Communications currently has an average rating of Buy and an average target price of $19.20.

Shares of NUAN stock traded up $0.36 during trading hours on Wednesday, hitting $18.07. The company’s stock had a trading volume of 79,637 shares, compared to its average volume of 2,084,904. The company has a market capitalization of $5.12 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. Nuance Communications has a 12-month low of $12.55 and a 12-month high of $18.16.

Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). The business had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $449.90 million. Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. As a group, sell-side analysts forecast that Nuance Communications will post 0.8 earnings per share for the current year.

In related news, EVP Robert Weideman sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $17.00, for a total value of $102,000.00. Following the completion of the transaction, the executive vice president now directly owns 475,900 shares in the company, valued at approximately $8,090,300. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arthur G. Giterman sold 3,120 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $16.55, for a total transaction of $51,636.00. Following the completion of the transaction, the insider now owns 80,022 shares of the company’s stock, valued at $1,324,364.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,761 shares of company stock valued at $1,793,479. Company insiders own 0.68% of the company’s stock.

A number of large investors have recently bought and sold shares of NUAN. Bremer Trust National Association acquired a new position in Nuance Communications during the fourth quarter worth $26,000. Robeco Institutional Asset Management B.V. raised its position in shares of Nuance Communications by 81.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,129 shares of the software maker’s stock valued at $28,000 after buying an additional 956 shares during the last quarter. Bremer Bank National Association acquired a new stake in shares of Nuance Communications in the first quarter valued at about $30,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Nuance Communications in the fourth quarter valued at about $36,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nuance Communications by 25.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock valued at $53,000 after purchasing an additional 628 shares during the period. Institutional investors own 88.27% of the company’s stock.

About Nuance Communications

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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