Zacks Investment Research Lowers Nuance Communications (NASDAQ:NUAN) to Hold

Zacks Investment Research downgraded shares of Nuance Communications (NASDAQ:NUAN) from a buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

NUAN has been the topic of several other reports. BidaskClub cut Nuance Communications from a sell rating to a strong sell rating in a research report on Monday, June 24th. Wedbush restated a buy rating and issued a $22.00 target price on shares of Nuance Communications in a research report on Wednesday, July 24th. Finally, ValuEngine cut Nuance Communications from a buy rating to a hold rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Nuance Communications has an average rating of Hold and an average target price of $19.00.

NUAN opened at $17.08 on Friday. Nuance Communications has a 12 month low of $12.66 and a 12 month high of $18.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.79. The stock has a market cap of $4.67 billion, a P/E ratio of 21.09, a P/E/G ratio of 4.01 and a beta of 0.91. The stock’s 50 day moving average price is $16.36 and its 200 day moving average price is $16.73.

In other news, EVP Robert Weideman sold 6,000 shares of Nuance Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $16.53, for a total transaction of $99,180.00. Following the transaction, the executive vice president now directly owns 432,959 shares in the company, valued at approximately $7,156,812.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Beaudoin sold 8,301 shares of Nuance Communications stock in a transaction on Monday, July 1st. The shares were sold at an average price of $16.04, for a total value of $133,148.04. Following the transaction, the executive vice president now owns 284,993 shares in the company, valued at $4,571,287.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,998 shares of company stock worth $1,638,290. 0.68% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Nuance Communications by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 26,328,658 shares of the software maker’s stock valued at $420,468,000 after purchasing an additional 204,438 shares during the period. Clearbridge Investments LLC increased its position in shares of Nuance Communications by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 24,065,209 shares of the software maker’s stock valued at $407,424,000 after purchasing an additional 277,227 shares during the period. Victory Capital Management Inc. increased its position in shares of Nuance Communications by 10.4% during the 2nd quarter. Victory Capital Management Inc. now owns 16,946,256 shares of the software maker’s stock valued at $270,632,000 after purchasing an additional 1,599,212 shares during the period. FIL Ltd increased its position in shares of Nuance Communications by 2.9% during the 1st quarter. FIL Ltd now owns 9,191,377 shares of the software maker’s stock valued at $155,610,000 after purchasing an additional 262,083 shares during the period. Finally, RGM Capital LLC increased its position in shares of Nuance Communications by 5.4% during the 2nd quarter. RGM Capital LLC now owns 6,016,877 shares of the software maker’s stock valued at $96,090,000 after purchasing an additional 306,700 shares during the period. Institutional investors own 88.13% 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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