Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a sell rating to a hold rating in a research note released on Wednesday.
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. “
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reissued a hold rating and issued a $15.00 target price (down previously from $18.00) on shares of Nuance Communications in a research note on Thursday, May 10th. BidaskClub downgraded shares of Nuance Communications from a sell rating to a strong sell rating in a research note on Wednesday, May 16th. Craig Hallum cut their target price on shares of Nuance Communications from $24.00 to $17.00 and set an in-line rating on the stock in a research note on Thursday, May 10th. ValuEngine downgraded shares of Nuance Communications from a hold rating to a sell rating in a research note on Wednesday, May 2nd. Finally, Morgan Stanley set a $20.00 target price on shares of Nuance Communications and gave the company a buy rating in a research note on Thursday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Nuance Communications presently has an average rating of Buy and an average target price of $20.00.
Nuance Communications opened at $13.89 on Wednesday, MarketBeat.com reports. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 1.65 and a beta of 0.64. Nuance Communications has a fifty-two week low of $12.18 and a fifty-two week high of $18.75.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Wednesday, May 9th. The software maker reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $518.31 million for the quarter, compared to analysts’ expectations of $516.43 million. Nuance Communications had a positive return on equity of 9.42% and a negative net margin of 10.32%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. equities analysts predict that Nuance Communications will post 0.7 earnings per share for the current fiscal year.
In related news, Director Mark R. Laret sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $13.98, for a total transaction of $209,700.00. Following the completion of the sale, the director now directly owns 79,047 shares of the company’s stock, valued at approximately $1,105,077.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.67% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NUAN. California Public Employees Retirement System grew its holdings in Nuance Communications by 7.6% during the 4th quarter. California Public Employees Retirement System now owns 521,440 shares of the software maker’s stock valued at $8,526,000 after purchasing an additional 36,789 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Nuance Communications during the 4th quarter valued at $9,280,000. First Republic Investment Management Inc. grew its holdings in Nuance Communications by 17.5% during the 4th quarter. First Republic Investment Management Inc. now owns 52,865 shares of the software maker’s stock valued at $864,000 after purchasing an additional 7,881 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in Nuance Communications during the 4th quarter valued at $319,000. Finally, Institute for Wealth Management LLC. acquired a new stake in Nuance Communications during the 4th quarter valued at $1,253,000. 85.62% of the stock is owned by institutional investors and hedge funds.
Nuance Communications Company Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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