Nuance Communications (NUAN) Rating Increased to Hold at BidaskClub

Nuance Communications (NASDAQ:NUAN) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other analysts also recently weighed in on NUAN. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, December 5th. Stifel Nicolaus restated a “hold” rating and set a $18.00 price objective (down previously from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Oppenheimer restated a “buy” rating and set a $23.00 price objective on shares of Nuance Communications in a research report on Wednesday, November 29th. TheStreet downgraded shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Finally, Morgan Stanley restated a “buy” rating and set a $18.00 price objective on shares of Nuance Communications in a research report on Wednesday, November 22nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $20.50.

Shares of Nuance Communications (NUAN) traded up $0.28 during trading hours on Friday, hitting $16.87. 3,426,359 shares of the stock traded hands, compared to its average volume of 4,630,000. The stock has a market cap of $4,900.00, a P/E ratio of 21.09, a PEG ratio of 1.74 and a beta of 0.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Nuance Communications has a twelve month low of $14.02 and a twelve month high of $19.93.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. The business had revenue of $474.70 million during the quarter, compared to the consensus estimate of $457.09 million. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. equities research analysts expect that Nuance Communications will post 0.81 EPS for the current fiscal year.

In related news, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $16.00, for a total value of $74,912.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the completion of the sale, the insider now owns 258,188 shares of the company’s stock, valued at approximately $4,022,569.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,864 shares of company stock valued at $243,603. 1.67% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NUAN. Ameriprise Financial Inc. increased its stake in Nuance Communications by 15.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock valued at $306,763,000 after buying an additional 2,383,671 shares during the period. Pictet Asset Management Ltd. increased its stake in Nuance Communications by 29.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock valued at $84,746,000 after buying an additional 1,224,085 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Nuance Communications in the 3rd quarter valued at $18,864,000. Sirios Capital Management L P increased its stake in Nuance Communications by 30.9% in the 3rd quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock valued at $78,838,000 after buying an additional 1,183,013 shares during the period. Finally, American Century Companies Inc. increased its stake in Nuance Communications by 4,461.1% in the 2nd quarter. American Century Companies Inc. now owns 1,058,903 shares of the software maker’s stock valued at $18,436,000 after buying an additional 1,035,687 shares during the period. Hedge funds and other institutional investors own 85.06% of the company’s stock.

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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.

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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