Nuance Communications, Inc. (NUAN) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Nuance Communications, Inc. (NASDAQ:NUAN) have received a consensus recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.38.
Several analysts have commented on the company. Deutsche Bank AG restated a “buy” rating and issued a $25.00 price target on shares of Nuance Communications in a report on Monday, June 12th. Zacks Investment Research cut Nuance Communications from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $18.00 price target (down previously from $19.00) on shares of Nuance Communications in a report on Tuesday, July 25th. BidaskClub cut Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. lowered their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 9th.
In other news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $17.42, for a total transaction of $130,650.00. Following the completion of the sale, the insider now owns 283,810 shares in the company, valued at approximately $4,943,970.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 21,500 shares of company stock valued at $364,785 in the last quarter. Company insiders own 1.67% of the company’s stock.
Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in shares of Nuance Communications during the 2nd quarter worth about $103,000. Daiwa Securities Group Inc. grew its holdings in shares of Nuance Communications by 19.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after purchasing an additional 1,100 shares during the period. Commonwealth Bank of Australia grew its holdings in shares of Nuance Communications by 29.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after purchasing an additional 1,600 shares during the period. Ledyard National Bank grew its holdings in shares of Nuance Communications by 4.8% during the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after purchasing an additional 330 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Nuance Communications by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock worth $178,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.
Nuance Communications (NASDAQ:NUAN) traded down 0.43% on Friday, reaching $16.29. 1,572,788 shares of the company’s stock were exchanged. The company’s market capitalization is $4.70 billion. The company has a 50 day moving average price of $16.25 and a 200-day moving average price of $17.35. Nuance Communications has a 1-year low of $13.44 and a 1-year high of $19.93.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). The business had revenue of $495.60 million during the quarter, compared to analysts’ expectations of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, equities research analysts anticipate that Nuance Communications will post $1.00 earnings per share for the current year.
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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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