Nuance Communications, Inc. (NASDAQ:NUAN)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer Holdings, Inc. in a research note issued on Thursday. They currently have a $23.00 target price on the software maker’s stock, down from their previous target price of $26.00. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 37.56% from the stock’s current price.
Several other equities research analysts have also recently weighed in on NUAN. Canaccord Genuity dropped their target price on Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday. Barclays PLC dropped their price objective on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James Financial, Inc. dropped their price objective on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Wednesday. Deutsche Bank AG dropped their price objective on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Zacks Investment Research cut Nuance Communications from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nuance Communications presently has an average rating of “Hold” and an average target price of $20.11.
Nuance Communications (NASDAQ NUAN) traded down 0.06% during trading on Thursday, reaching $16.71. The company’s stock had a trading volume of 503,830 shares. The company’s 50-day moving average is $17.47 and its 200-day moving average is $17.44. The stock’s market cap is $4.81 billion. Nuance Communications has a 12 month low of $13.44 and a 12 month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.09. The company had revenue of $495.60 million for the quarter, compared to analysts’ expectations of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.76%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities analysts expect that Nuance Communications will post $1.02 EPS for the current fiscal year.
In related news, VP Adam Bruce Bowden sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $19.15, for a total transaction of $95,750.00. Following the completion of the transaction, the vice president now owns 149,414 shares of the company’s stock, valued at approximately $2,861,278.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel David Tempesta sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $17.36, for a total value of $130,200.00. Following the transaction, the insider now directly owns 270,810 shares of the company’s stock, valued at approximately $4,701,261.60. The disclosure for this sale can be found here. Insiders sold a total of 186,267 shares of company stock valued at $3,518,245 in the last three months. Corporate insiders own 1.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NUAN. Commonwealth Bank of Australia raised its position in Nuance Communications by 29.6% in the second quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after buying an additional 1,600 shares during the period. Tredje AP fonden bought a new position in Nuance Communications during the second quarter worth $1,908,000. IFM Investors Pty Ltd bought a new position in Nuance Communications during the second quarter worth $273,000. Sawtooth Solutions LLC bought a new position in Nuance Communications during the second quarter worth $491,000. Finally, Cedar Capital LLC bought a new position in Nuance Communications during the second quarter worth $188,000. 84.01% of the stock is owned by 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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