Nuance Communications (NASDAQ:NUAN) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $18.00 price target 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 equities analysts also recently weighed in on the company. BidaskClub downgraded Nuance Communications from a sell rating to a strong sell rating in a research report on Monday, June 24th. ValuEngine cut Nuance Communications from a buy rating to a hold rating in a report on Friday, June 21st. Finally, Wedbush restated a buy rating and set a $22.00 price objective on shares of Nuance Communications in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $19.00.

Nuance Communications stock opened at $16.71 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.79 and a current ratio of 1.77. The stock has a fifty day moving average of $16.31 and a two-hundred day moving average of $16.73. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 4.01 and a beta of 0.91. Nuance Communications has a fifty-two week low of $12.66 and a fifty-two week high of $18.16.

In other news, Director Mark R. Laret sold 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.37, for a total transaction of $173,700.00. Following the sale, the director now owns 79,945 shares in the company, valued at $1,388,644.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark D. Benjamin sold 45,396 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $17.40, for a total value of $789,890.40. Following the sale, the chief executive officer now owns 629,430 shares in the company, valued at approximately $10,952,082. The disclosure for this sale can be found here. Insiders have sold 95,998 shares of company stock worth $1,638,290 in the last 90 days. Insiders own 0.68% of the company’s stock.

Several hedge funds have recently bought and sold shares of NUAN. Formula Growth Ltd. boosted its holdings in Nuance Communications by 1.6% in the first quarter. Formula Growth Ltd. now owns 1,611,000 shares of the software maker’s stock valued at $27,274,000 after acquiring an additional 25,000 shares during the last quarter. Bank of Montreal Can boosted its holdings in Nuance Communications by 1.2% in the first quarter. Bank of Montreal Can now owns 872,514 shares of the software maker’s stock valued at $14,771,000 after acquiring an additional 10,400 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Nuance Communications by 17.1% in the fourth quarter. Principal Financial Group Inc. now owns 24,061 shares of the software maker’s stock valued at $318,000 after acquiring an additional 3,515 shares during the last quarter. FIL Ltd boosted its holdings in Nuance Communications by 2.9% in the first quarter. FIL Ltd now owns 9,191,377 shares of the software maker’s stock valued at $155,610,000 after acquiring an additional 262,083 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in Nuance Communications in the first quarter valued at $143,000. Institutional investors and hedge funds own 88.01% of the company’s stock.

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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