Nuance Communications (NASDAQ:NUAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $18.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 19.52% from the stock’s current price.

According to Zacks, “Nuance Communications, Inc. is the leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. “

Several other research analysts also recently issued reports on the stock. Morgan Stanley upgraded shares of Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Thursday, November 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 price target (down from $19.00) on shares of Nuance Communications in a report on Wednesday, November 29th. Raymond James Financial decreased their price objective 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. Deutsche Bank decreased their price objective on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, TheStreet downgraded Nuance Communications from a “c” rating to a “d+” rating in a report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Nuance Communications currently has an average rating of “Buy” and an average target price of $20.50.

Shares of Nuance Communications (NUAN) traded down $0.23 during trading hours on Tuesday, hitting $15.06. 4,130,723 shares of the stock traded hands, compared to its average volume of 2,795,572. The firm has a market capitalization of $4,586.40, a P/E ratio of 19.75, a PEG ratio of 1.63 and a beta of 0.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Nuance Communications has a 52 week low of $14.02 and a 52 week high of $19.93.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, November 28th. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The company had revenue of $474.70 million during the quarter, compared to the consensus estimate of $457.09 million. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. sell-side analysts expect that Nuance Communications will post 0.81 earnings per share for the current fiscal year.

In other Nuance Communications news, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $14.40, for a total transaction of $67,420.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the sale, the insider now directly owns 258,188 shares in the company, valued at approximately $4,022,569.04. The disclosure for this sale can be found here. Insiders sold 15,864 shares of company stock valued at $243,603 over the last 90 days. 1.67% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in Nuance Communications during the second quarter valued at $103,000. Commonwealth Bank of Australia boosted its position in Nuance Communications by 29.6% during the second quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock valued at $121,000 after acquiring an additional 1,600 shares during the last quarter. Exane Derivatives boosted its position in Nuance Communications by 250.3% during the third quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock valued at $130,000 after acquiring an additional 5,912 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Nuance Communications by 23.5% during the second quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock valued at $146,000 after acquiring an additional 1,600 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Nuance Communications during the third quarter valued at $149,000. 85.56% of the stock is currently owned by institutional investors and hedge funds.

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Nuance Communications Company Profile

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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