Nuance Communications, Inc. (NASDAQ:NUAN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.12-0.17 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.25. The company issued revenue guidance of $442-472, compared to the consensus revenue estimate of $500.95 million.
Shares of Nuance Communications, Inc. (NASDAQ NUAN) traded down 1.01% on Friday, reaching $15.70. 1,961,398 shares of the company traded hands. The stock’s market cap is $4.53 billion. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93. The stock has a 50 day moving average of $17.01 and a 200 day moving average of $17.44.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.09. The firm had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. On average, analysts expect that Nuance Communications, Inc. will post $1.00 earnings per share for the current year.
A number of research firms have recently issued reports on NUAN. Canaccord Genuity cut their target price on shares of Nuance Communications from $22.00 to $21.00 and set a buy rating for the company in a research note on Wednesday, August 9th. Barclays PLC cut their target price on shares of Nuance Communications from $22.00 to $21.00 and set an overweight rating for the company in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an outperform rating and set a $23.00 target price (down previously from $26.00) on shares of Nuance Communications in a research note on Thursday, August 10th. Raymond James Financial, Inc. cut their target price on shares of Nuance Communications from $24.00 to $22.00 and set a strong-buy rating for the company in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG lowered their price target on shares of Nuance Communications from $25.00 to $23.00 and set a buy rating on the stock in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $20.11.
In related news, insider Daniel David Tempesta sold 8,500 shares of Nuance Communications stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $18.61, for a total transaction of $158,185.00. Following the sale, the insider now directly owns 286,810 shares of the company’s stock, valued at approximately $5,337,534.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Ricci sold 139,267 shares of Nuance Communications 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 sale, the chief executive officer now owns 2,090,036 shares in the company, valued at $39,919,687.60. The disclosure for this sale can be found here. Insiders have sold a total of 171,267 shares of company stock worth $3,239,095 over the last ninety days. 1.67% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Nuance Communications stock. The Manufacturers Life Insurance Company increased its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,234 shares of the software maker’s stock after buying an additional 809 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Nuance Communications were worth $178,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 85.65% of the company’s stock.
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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