Zacks Investment Research Downgrades Nuance Communications Inc. (NUAN) to Strong Sell
Nuance Communications Inc. (NASDAQ:NUAN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
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 research firms also recently weighed in on NUAN. Deutsche Bank AG dropped their target price on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $26.00 price target on shares of Nuance Communications in a research note on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price target on Nuance Communications and gave the company a “hold” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $21.82.
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Nuance Communications (NASDAQ:NUAN) traded up 0.62% during midday trading on Wednesday, hitting $14.63. 1,337,065 shares of the stock traded hands. Nuance Communications has a 1-year low of $13.74 and a 1-year high of $21.83. The firm’s market cap is $4.09 billion. The company has a 50-day moving average price of $14.53 and a 200-day moving average price of $16.21.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $484.90 million for the quarter, compared to analysts’ expectations of $489.54 million. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Analysts predict that Nuance Communications will post $1.51 EPS for the current year.
In other Nuance Communications news, VP Adam Bruce Bowden sold 6,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $16.03, for a total transaction of $96,180.00. Following the completion of the sale, the vice president now owns 193,490 shares of the company’s stock, valued at approximately $3,101,644.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.23% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Nuance Communications during the second quarter valued at about $49,969,000. AQR Capital Management LLC increased its stake in shares of Nuance Communications by 150.0% in the second quarter. AQR Capital Management LLC now owns 4,429,776 shares of the company’s stock valued at $69,238,000 after buying an additional 2,657,896 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Nuance Communications by 12.9% in the second quarter. Vanguard Group Inc. now owns 19,511,687 shares of the company’s stock valued at $304,969,000 after buying an additional 2,236,823 shares in the last quarter. Numeric Investors LLC increased its stake in shares of Nuance Communications by 83.0% in the second quarter. Numeric Investors LLC now owns 4,244,907 shares of the company’s stock valued at $66,348,000 after buying an additional 1,925,807 shares in the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of Nuance Communications by 338.3% in the second quarter. BlackRock Advisors LLC now owns 1,728,518 shares of the company’s stock valued at $27,017,000 after buying an additional 1,334,153 shares in the last quarter. 85.18% of the stock is owned by institutional investors and hedge funds.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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