Nuance Communications, Inc. (NASDAQ:NUAN) Rating Reiterated by Morgan Stanley
Nuance Communications, Inc. (NASDAQ:NUAN)‘s stock had its “equal weight” rating reaffirmed by analysts at Morgan Stanley in a research note issued to investors on Tuesday. They presently have a $18.00 target price on the software maker’s stock, down from their prior target price of $19.00. Morgan Stanley’s price target indicates a potential upside of 3.51% from the stock’s previous close.
NUAN has been the subject of several other reports. Deutsche Bank AG restated a “buy” rating and set a $25.00 target price on shares of Nuance Communications in a report on Monday, June 12th. Zacks Investment Research upgraded shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Stifel Nicolaus raised their target price 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. BidaskClub downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Barclays PLC restated a “buy” rating and set a $22.00 target price on shares of Nuance Communications in a report on Friday, May 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $20.89.
Nuance Communications (NASDAQ NUAN) traded down 0.34% during midday trading on Tuesday, hitting $17.39. 1,890,749 shares of the company’s stock traded hands. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $19.93. The company’s market capitalization is $5.00 billion. The company has a 50 day moving average of $18.01 and a 200-day moving average of $17.34.
Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $511.10 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same quarter last year, the business posted $0.38 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Nuance Communications will post $1.11 earnings per share for the current year.
In related news, insider Daniel David Tempesta sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $17.42, for a total value of $130,650.00. Following the sale, the insider now directly owns 283,810 shares of the company’s stock, valued at $4,943,970.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Adam Bruce Bowden sold 5,930 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $18.15, for a total transaction of $107,629.50. Following the completion of the sale, the vice president now directly owns 203,286 shares in the company, valued at $3,689,640.90. The disclosure for this sale can be found here. Insiders sold 200,861 shares of company stock worth $3,801,673 over the last three months. Corporate insiders own 1.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NUAN. Daiwa Securities Group Inc. boosted its stake in Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock valued at $118,000 after buying an additional 1,100 shares in the last quarter. Ledyard National Bank boosted its stake in Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock valued at $125,000 after buying an additional 330 shares in the last quarter. IFP Advisors Inc boosted its stake in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock valued at $143,000 after buying an additional 400 shares in the last quarter. World Asset Management Inc bought a new stake in Nuance Communications during the first quarter valued at about $180,000. Finally, Raymond James Trust N.A. bought a new stake in Nuance Communications during the first quarter valued at about $185,000. 86.17% of the stock is currently owned by institutional investors and hedge funds.
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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