Nuance Communications (NASDAQ:NUAN)‘s stock had its “buy” rating reaffirmed by analysts at Oppenheimer in a report issued on Monday, December 18th. They presently have a $23.00 price objective on the software maker’s stock. Oppenheimer’s price objective would indicate a potential upside of 34.58% from the company’s previous close.
Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Stifel Nicolaus reissued a “hold” rating and set a $18.00 price target (down previously from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Morgan Stanley reissued a “buy” rating and set a $18.00 price target on shares of Nuance Communications in a research report on Wednesday, November 22nd. Zacks Investment Research raised shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, December 5th. Finally, TheStreet downgraded shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Nuance Communications has an average rating of “Buy” and a consensus target price of $20.50.
Shares of Nuance Communications (NASDAQ NUAN) traded down $0.04 during mid-day trading on Monday, hitting $17.09. 1,862,507 shares of the stock traded hands, compared to its average volume of 4,630,000. Nuance Communications has a 1-year low of $14.02 and a 1-year high of $19.93. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $4,960.00, a price-to-earnings ratio of -32.87, a P/E/G ratio of 1.77 and a beta of 0.60.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Tuesday, November 28th. The software maker reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The firm had revenue of $474.70 million for the quarter, compared to analyst estimates of $457.09 million. During the same quarter last year, the firm posted $0.41 earnings per share. Nuance Communications’s revenue for the quarter was down 7.4% compared to the same quarter last year. equities analysts expect that Nuance Communications will post 0.81 earnings per share for the current year.
In related news, EVP Kenneth M. Siegel sold 4,682 shares of Nuance Communications stock in a transaction dated 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 can be accessed through this link. Company insiders own 1.67% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Aperio Group LLC raised its position in Nuance Communications by 18.3% in the second quarter. Aperio Group LLC now owns 24,747 shares of the software maker’s stock worth $431,000 after acquiring an additional 3,827 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Nuance Communications by 23.5% in the second quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock worth $146,000 after acquiring an additional 1,600 shares in the last quarter. Boston Partners bought a new stake in Nuance Communications in the second quarter worth about $1,908,000. Rhumbline Advisers raised its position in Nuance Communications by 5.3% in the second quarter. Rhumbline Advisers now owns 268,222 shares of the software maker’s stock worth $4,670,000 after acquiring an additional 13,453 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Nuance Communications by 1.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 118,528 shares of the software maker’s stock worth $2,064,000 after acquiring an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 84.94% of the company’s stock.
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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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