Nuance Communications, Inc. (NUAN) Earns Buy Rating from Deutsche Bank AG
Nuance Communications, Inc. (NASDAQ:NUAN)‘s stock had its “buy” rating reiterated by Deutsche Bank AG in a report released on Monday. They presently have a $25.00 price objective on the software maker’s stock. Deutsche Bank AG’s price objective points to a potential upside of 36.02% from the company’s previous close.
NUAN has been the subject of several other research reports. Stifel Nicolaus increased their price objective on shares of Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, May 10th. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Barclays PLC reissued a “buy” rating and set a $22.00 price objective on shares of Nuance Communications in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.00.
Shares of Nuance Communications (NASDAQ NUAN) traded down 1.29% during midday trading on Monday, reaching $18.38. The company’s stock had a trading volume of 2,943,475 shares. The company’s market cap is $5.29 billion. The company’s 50-day moving average price is $18.53 and its 200-day moving average price is $16.84. Nuance Communications has a 12 month low of $13.44 and a 12 month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Tuesday, May 9th. The software maker reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by $0.04. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The company had revenue of $511.10 million for the quarter, compared to the consensus estimate of $506.83 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Nuance Communications will post $1.18 EPS for the current fiscal year.
In related news, VP Adam Bruce Bowden sold 9,131 shares of the stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $16.75, for a total value of $152,944.25. Following the completion of the transaction, the vice president now owns 192,529 shares of the company’s stock, valued at approximately $3,224,860.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Ricci sold 139,267 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total transaction of $2,659,999.70. Following the completion of the transaction, the chief executive officer now directly owns 2,090,036 shares of the company’s stock, valued at approximately $39,919,687.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,492 shares of company stock valued at $3,857,988. 1.67% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MARSHALL WACE ASIA Ltd purchased a new stake in Nuance Communications during the first quarter worth $28,801,000. Marshall Wace North America L.P. purchased a new stake in Nuance Communications during the first quarter worth $28,801,000. GMT Capital Corp purchased a new stake in Nuance Communications during the first quarter worth $25,255,000. Pictet Asset Management Ltd. raised its stake in Nuance Communications by 49.3% in the first quarter. Pictet Asset Management Ltd. now owns 3,942,822 shares of the software maker’s stock worth $68,250,000 after buying an additional 1,302,167 shares during the period. Finally, Norges Bank purchased a new stake in Nuance Communications during the fourth quarter worth $18,618,000. 85.98% of the stock is owned by hedge funds and other institutional investors.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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