Nuance Communications, Inc. (NUAN) Given Consensus Rating of “Hold” by Analysts
Nuance Communications, Inc. (NASDAQ:NUAN) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.38.
Several research analysts have recently commented on NUAN shares. Deutsche Bank AG dropped their price target on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Canaccord Genuity dropped their price target on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Morgan Stanley restated an “equal weight” rating and set a $18.00 price target (down previously from $19.00) on shares of Nuance Communications in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $23.00 price target (down previously from $26.00) on shares of Nuance Communications in a research note on Thursday, August 10th.
In other Nuance Communications news, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.99, for a total value of $103,935.00. Following the completion of the sale, the insider now directly owns 270,677 shares of the company’s stock, valued at approximately $4,328,125.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,182 shares of company stock valued at $410,317. Insiders own 1.67% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Intl Fcstone Inc. bought a new stake in Nuance Communications in the 2nd quarter valued at $209,000. Public Employees Retirement System of Ohio boosted its holdings in Nuance Communications by 27.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 130,590 shares of the software maker’s stock valued at $2,274,000 after purchasing an additional 28,102 shares during the period. Wealthsource Partners LLC bought a new stake in Nuance Communications in the 2nd quarter valued at $296,000. Koch Industries Inc. bought a new stake in Nuance Communications in the 2nd quarter valued at $523,000. Finally, Verition Fund Management LLC boosted its holdings in Nuance Communications by 104.8% in the 2nd quarter. Verition Fund Management LLC now owns 60,940 shares of the software maker’s stock valued at $1,061,000 after purchasing an additional 31,180 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 0.69% during mid-day trading on Wednesday, hitting $15.80. 1,771,088 shares of the stock traded hands. The stock has a 50-day moving average of $15.90 and a 200-day moving average of $17.22. The company’s market cap is $4.56 billion. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $19.93.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.09). Nuance Communications had a positive return on equity of 14.73% and a negative net margin of 3.38%. The business had revenue of $495.60 million for the quarter, compared to analyst estimates of $495.57 million. During the same quarter last year, the company earned $0.38 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that Nuance Communications will post $1.00 EPS 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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