Nuance Communications, Inc. (NASDAQ:NUAN) has received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.38.
A number of brokerages have recently issued reports on NUAN. Canaccord Genuity reduced their price objective on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price objective on shares of Nuance Communications in a report on Monday, June 12th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $23.00 price objective (down from $26.00) on shares of Nuance Communications in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Raymond James Financial, Inc. reduced their price objective on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 9th.
In related news, insider Daniel David Tempesta sold 6,500 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $15.99, for a total transaction of $103,935.00. Following the transaction, the insider now directly owns 270,677 shares in the company, valued at $4,328,125.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 21,500 shares of company stock worth $364,785. 1.67% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC boosted its holdings in Nuance Communications by 1.7% during the first quarter. Clearbridge Investments LLC now owns 25,590,805 shares of the software maker’s stock worth $442,977,000 after purchasing an additional 430,377 shares during the last quarter. Vanguard Group Inc. raised its position in Nuance Communications by 1.5% in the second quarter. Vanguard Group Inc. now owns 23,288,701 shares of the software maker’s stock worth $405,455,000 after acquiring an additional 335,427 shares during the period. Ameriprise Financial Inc. raised its position in Nuance Communications by 15.6% in the second quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock worth $306,763,000 after acquiring an additional 2,383,671 shares during the period. Primecap Management Co. CA raised its position in Nuance Communications by 0.6% in the first quarter. Primecap Management Co. CA now owns 11,901,565 shares of the software maker’s stock worth $206,016,000 after acquiring an additional 71,216 shares during the period. Finally, FIL Ltd raised its position in Nuance Communications by 8.0% in the first quarter. FIL Ltd now owns 9,240,823 shares of the software maker’s stock worth $159,959,000 after acquiring an additional 680,563 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 0.462% during trading on Friday, reaching $16.155. 395,669 shares of the company were exchanged. The firm’s market cap is $4.66 billion. The stock’s 50-day moving average is $16.22 and its 200-day moving average is $17.35. Nuance Communications has a 52-week low of $13.44 and a 52-week high of $19.93.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly 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). Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The company had revenue of $495.60 million during the quarter, compared to the consensus estimate of $495.57 million. During the same period last year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts predict that Nuance Communications will post $1.00 earnings per share for the current fiscal year.
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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