Nuance Communications Inc. (NASDAQ:NUAN) Given Average Recommendation of “Hold” by Analysts
Nuance Communications Inc. (NASDAQ:NUAN) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.13.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Deutsche Bank AG reduced their price target on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $26.00 price target on shares of Nuance Communications in a research report on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price target on shares of Nuance Communications and gave the company a “hold” rating in a research report on Tuesday, August 9th.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 0.41% during midday trading on Monday, reaching $14.57. 514,303 shares of the company were exchanged. The stock’s market capitalization is $4.08 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 has a 12-month low of $13.74 and a 12-month high of $21.83.
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Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Monday, August 8th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The firm earned $484.90 million during the quarter, compared to analyst estimates of $489.54 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts forecast that Nuance Communications will post $1.51 earnings per share for the current fiscal year.
In other news, VP Adam Bruce Bowden sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 193,490 shares in the company, valued at approximately $3,101,644.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.23% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NUAN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Nuance Communications by 0.4% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,283 shares of the company’s stock worth $536,000 after buying an additional 139 shares in the last quarter. Menta Capital LLC increased its position in Nuance Communications by 1.3% in the second quarter. Menta Capital LLC now owns 23,500 shares of the company’s stock worth $367,000 after buying an additional 300 shares in the last quarter. CIBC Asset Management Inc increased its position in Nuance Communications by 2.4% in the second quarter. CIBC Asset Management Inc now owns 16,674 shares of the company’s stock worth $261,000 after buying an additional 384 shares in the last quarter. Ledyard National Bank increased its position in Nuance Communications by 5.1% in the second quarter. Ledyard National Bank now owns 8,230 shares of the company’s stock worth $129,000 after buying an additional 400 shares in the last quarter. Finally, Globeflex Capital L P increased its position in Nuance Communications by 0.5% in the second quarter. Globeflex Capital L P now owns 84,770 shares of the company’s stock worth $1,325,000 after buying an additional 454 shares in the last quarter. Hedge funds and other institutional investors own 85.18% of the company’s stock.
Nuance Communications Company Profile
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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