Oppenheimer Reiterates Buy Rating for Nuance Communications (NUAN)

Nuance Communications (NASDAQ:NUAN)‘s stock had its “buy” rating reissued by research analysts at Oppenheimer in a research report issued to clients and investors on Tuesday. They currently have a $23.00 target price on the software maker’s stock. Oppenheimer’s target price suggests a potential upside of 23.13% from the company’s current price.

A number of other research analysts have also weighed in on NUAN. Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Morgan Stanley raised Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 target price on the stock in a report on Thursday, November 2nd. Stifel Nicolaus reissued a “hold” rating and set a $18.00 target price (down from $19.00) on shares of Nuance Communications in a report on Wednesday, November 29th. TheStreet lowered Nuance Communications from a “c” rating to a “d+” rating in a report on Tuesday, November 28th. Finally, BidaskClub raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.50.

Nuance Communications (NASDAQ NUAN) traded up $1.67 during mid-day trading on Tuesday, hitting $18.68. The company had a trading volume of 8,892,800 shares, compared to its average volume of 3,095,907. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $5,360.00, a price-to-earnings ratio of -35.92, a PEG ratio of 1.75 and a beta of 0.60. Nuance Communications has a 1-year low of $14.02 and a 1-year high of $19.93.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $474.70 million for the quarter, compared to analyst estimates of $457.09 million. Nuance Communications had a positive return on equity of 12.15% and a negative net margin of 7.75%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. research analysts predict that Nuance Communications will post 0.81 EPS 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 stock was sold at an average price of $14.40, for a total value of $67,420.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.67% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NUAN. Pictet Asset Management Ltd. grew its holdings in Nuance Communications by 29.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock valued at $84,746,000 after buying an additional 1,224,085 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Nuance Communications in the 3rd quarter valued at $18,864,000. Sirios Capital Management L P grew its holdings in Nuance Communications by 30.9% in the 3rd quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock valued at $78,838,000 after buying an additional 1,183,013 shares in the last quarter. American Century Companies Inc. grew its holdings in Nuance Communications by 92.1% in the 3rd quarter. American Century Companies Inc. now owns 2,034,146 shares of the software maker’s stock valued at $31,977,000 after buying an additional 975,243 shares in the last quarter. Finally, Hunt Lane Capital LP acquired a new position in Nuance Communications in the 2nd quarter valued at $14,276,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Oppenheimer Reiterates Buy Rating for Nuance Communications (NUAN)” was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/23/oppenheimer-reiterates-buy-rating-for-nuance-communications-nuan-2.html.

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.

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

Receive News & Ratings for Nuance Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply