Shares of Nuance Communications Inc. (NASDAQ:NUAN) have received an average recommendation of “Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.50.
A number of equities analysts have recently weighed in on NUAN shares. TheStreet lowered Nuance Communications from a “c” rating to a “d+” rating in a research note on Tuesday, November 28th. Zacks Investment Research upgraded Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, December 5th. Morgan Stanley upgraded Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Thursday, November 2nd. Oppenheimer reiterated a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a research note on Tuesday, January 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research note on Wednesday, November 29th.
Several hedge funds and other institutional investors have recently made changes to their positions in NUAN. Exane Derivatives increased its stake in shares of Nuance Communications by 250.3% during the third quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock worth $130,000 after purchasing an additional 5,912 shares during the period. SG Americas Securities LLC bought a new position in Nuance Communications during the 3rd quarter worth $149,000. Concorde Asset Management LLC bought a new position in Nuance Communications during the 3rd quarter worth $159,000. ETRADE Capital Management LLC bought a new position in Nuance Communications during the 3rd quarter worth $172,000. Finally, CIBC World Markets Inc. bought a new position in Nuance Communications during the 4th quarter worth $176,000. Institutional investors own 85.46% of the company’s stock.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Nuance Communications had a positive return on equity of 11.74% and a negative net margin of 3.76%. The company had revenue of $508.80 million during the quarter, compared to analysts’ expectations of $508.55 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. analysts forecast that Nuance Communications will post 0.87 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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