Nuance Communications, Inc. (NASDAQ:NUAN) had its target price trimmed by Barclays PLC from $22.00 to $21.00 in a research report report published on Wednesday, August 9th. The firm currently has an overweight rating on the software maker’s stock.
Other equities analysts have also recently issued reports about the company. Raymond James Financial, Inc. reduced their target price on Nuance Communications from $24.00 to $22.00 and set a strong-buy rating for the company in a research report on Wednesday, August 9th. Deutsche Bank AG lowered their target price on Nuance Communications from $25.00 to $23.00 and set a buy rating for the company in a research note on Wednesday, August 9th. Canaccord Genuity lowered their target price on Nuance Communications from $22.00 to $21.00 and set a buy rating for the company in a research note on Wednesday, August 9th. BidaskClub lowered Nuance Communications from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Finally, Morgan Stanley reissued an equal weight rating and issued a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Nuance Communications currently has a consensus rating of Hold and an average target price of $20.11.
Nuance Communications (NUAN) traded down 1.01% during mid-day trading on Wednesday, hitting $15.70. The stock had a trading volume of 1,961,398 shares. The firm’s 50-day moving average is $17.01 and its 200 day moving average is $17.44. The company’s market cap is $4.53 billion. Nuance Communications has a 12 month low of $13.44 and a 12 month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.09. The company had revenue of $495.60 million during 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 14.73%. Nuance Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. Equities analysts anticipate that Nuance Communications will post $1.00 EPS for the current fiscal year.
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In other Nuance Communications news, CEO Paul Ricci sold 139,267 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $19.10, for a total transaction of $2,659,999.70. Following the transaction, the chief executive officer now owns 2,090,036 shares in the company, valued at approximately $39,919,687.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $18.80, for a total value of $141,000.00. Following the transaction, the insider now owns 295,310 shares in the company, valued at approximately $5,551,828. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,267 shares of company stock worth $3,239,095. 1.67% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NUAN. Comerica Bank increased its position in Nuance Communications by 0.7% in the first quarter. Comerica Bank now owns 12,581 shares of the software maker’s stock worth $224,000 after buying an additional 90 shares during the period. Moors & Cabot Inc. increased its position in Nuance Communications by 1.3% in the second quarter. Moors & Cabot Inc. now owns 11,215 shares of the software maker’s stock worth $193,000 after buying an additional 140 shares during the period. Ledyard National Bank increased its position in Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after buying an additional 330 shares during the period. IFP Advisors Inc increased its position in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Nuance Communications by 1.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 30,900 shares of the software maker’s stock worth $535,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.
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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