Wall Street analysts expect Nuance Communications, Inc. (NASDAQ:NUAN) to report $495.79 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Nuance Communications’ earnings. The highest sales estimate is $496.00 million and the lowest is $495.46 million. Nuance Communications reported sales of $484.86 million in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The firm is scheduled to report its next earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that Nuance Communications will report full-year sales of $495.79 million for the current fiscal year, with estimates ranging from $1.99 billion to $2.01 billion. For the next financial year, analysts anticipate that the business will report sales of $2.08 billion per share, with estimates ranging from $2.04 billion to $2.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Nuance Communications.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, May 9th. The software maker reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The firm had revenue of $511.10 million during the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis.
NUAN has been the topic of a number of recent analyst reports. Barclays PLC restated a “buy” rating and issued a $22.00 price target on shares of Nuance Communications in a research report on Friday, May 12th. Zacks Investment Research cut Nuance Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 17th. BidaskClub cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating and issued a $25.00 price target on shares of Nuance Communications in a research report on Monday, June 12th. Finally, Stifel Nicolaus raised their price target on Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $20.89.
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In other news, Director Katherine A. Martin sold 10,000 shares of Nuance Communications stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $19.12, for a total transaction of $191,200.00. Following the sale, the director now directly owns 97,880 shares of the company’s stock, valued at $1,871,465.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Ricci sold 139,267 shares of Nuance Communications stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total value of $2,659,999.70. Following the sale, the chief executive officer now directly owns 2,090,036 shares in the company, valued at $39,919,687.60. The disclosure for this sale can be found here. Insiders sold 198,361 shares of company stock worth $3,756,673 over the last ninety days. 1.67% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. New Jersey Better Educational Savings Trust purchased a new stake in shares of Nuance Communications during the first quarter worth approximately $485,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Nuance Communications during the first quarter worth approximately $19,122,000. Fisher Asset Management LLC raised its stake in shares of Nuance Communications by 21.1% in the first quarter. Fisher Asset Management LLC now owns 1,029,111 shares of the software maker’s stock worth $17,814,000 after buying an additional 179,547 shares during the last quarter. DnB Asset Management AS purchased a new stake in shares of Nuance Communications during the first quarter worth approximately $322,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Nuance Communications by 19.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 119,420 shares of the software maker’s stock worth $2,068,000 after buying an additional 19,308 shares during the last quarter. 85.38% of the stock is currently owned by hedge funds and other institutional investors.
Nuance Communications Company Profile
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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