Zacks Investment Research upgraded shares of Nuance Communications Inc. (NASDAQ:NUAN) from a strong sell rating to a hold rating in a research note published 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. “
NUAN has been the topic of several other reports. Barclays PLC set a $19.00 price target on Nuance Communications and gave the stock a hold rating in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $26.00 target price on shares of Nuance Communications in a report on Thursday, August 11th. Finally, Deutsche Bank AG dropped their target price on Nuance Communications from $30.00 to $25.00 and set a buy rating on the stock in a report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Nuance Communications has an average rating of Buy and a consensus price target of $22.22.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 0.65% during midday trading on Wednesday, reaching $13.83. The company had a trading volume of 163,752 shares. The stock’s market capitalization is $3.87 billion. The company’s 50-day moving average is $14.45 and its 200-day moving average is $16.07. Nuance Communications has a 1-year low of $13.62 and a 1-year high of $21.83.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $484.90 million for the quarter, compared to analysts’ expectations of $489.54 million. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, equities research analysts forecast that Nuance Communications will post $1.51 EPS for the current year.
In other Nuance Communications news, VP Adam Bruce Bowden sold 6,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $16.03, for a total value of $96,180.00. Following the transaction, the vice president now owns 193,490 shares of the company’s stock, valued at $3,101,644.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.23% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NUAN. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Nuance Communications during the second quarter worth $49,969,000. AQR Capital Management LLC increased its position in Nuance Communications by 150.0% in the second quarter. AQR Capital Management LLC now owns 4,429,776 shares of the company’s stock worth $69,238,000 after buying an additional 2,657,896 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Nuance Communications by 12.9% in the second quarter. Vanguard Group Inc. now owns 19,511,687 shares of the company’s stock worth $304,969,000 after buying an additional 2,236,823 shares during the last quarter. Numeric Investors LLC boosted its stake in shares of Nuance Communications by 83.0% in the second quarter. Numeric Investors LLC now owns 4,244,907 shares of the company’s stock worth $66,348,000 after buying an additional 1,925,807 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in shares of Nuance Communications by 338.3% in the second quarter. BlackRock Advisors LLC now owns 1,728,518 shares of the company’s stock worth $27,017,000 after buying an additional 1,334,153 shares during the last quarter. 85.22% of the stock is currently owned by institutional investors.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.