Zacks Investment Research Lowers Nuance Communications (NUAN) to Hold

Zacks Investment Research downgraded shares of Nuance Communications (NASDAQ:NUAN) from a buy rating to a hold rating in a research note released on Thursday.

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. “

NUAN has been the topic of a number of other reports. Oppenheimer reissued a buy rating and set a $23.00 target price on shares of Nuance Communications in a research report on Wednesday, November 29th. BidaskClub cut shares of Nuance Communications from a hold rating to a sell rating in a research report on Friday, January 26th. Canaccord Genuity reissued a buy rating and set a $21.00 target price on shares of Nuance Communications in a research report on Monday, January 22nd. TheStreet raised shares of Nuance Communications from a d+ rating to a c- rating in a research report on Wednesday, January 17th. Finally, Stifel Nicolaus reissued a hold rating and set a $18.00 target price (down from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Nuance Communications currently has an average rating of Buy and an average price target of $20.50.

Nuance Communications (NASDAQ:NUAN) opened at $16.66 on Thursday. The firm has a market cap of $4,893.03, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.19 and a current ratio of 1.46. Nuance Communications has a 12-month low of $14.02 and a 12-month high of $19.93.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $508.80 million for the quarter, compared to analysts’ expectations of $508.55 million. Nuance Communications had a negative net margin of 3.76% and a positive return on equity of 11.62%. Nuance Communications’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. equities research analysts predict that Nuance Communications will post 0.83 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NUAN. Victory Capital Management Inc. lifted its position in shares of Nuance Communications by 955.0% during the fourth quarter. Victory Capital Management Inc. now owns 6,737,164 shares of the software maker’s stock worth $110,153,000 after purchasing an additional 6,098,570 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Nuance Communications by 29.4% in the third quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock worth $84,746,000 after buying an additional 1,224,085 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Nuance Communications in the third quarter worth $18,864,000. Sirios Capital Management L P increased its stake in shares of Nuance Communications by 30.9% in the third quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock worth $78,838,000 after buying an additional 1,183,013 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Nuance Communications by 136.5% in the fourth quarter. Millennium Management LLC now owns 1,902,239 shares of the software maker’s stock worth $31,102,000 after buying an additional 1,097,864 shares during the last quarter. 85.46% of the stock is currently owned by institutional investors and hedge funds.

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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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