According to Zacks, “Nuance Communications, Inc. is the leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. “
A number of other equities research analysts have also weighed in on NUAN. Deutsche Bank AG lowered their price objective on Nuance Communications from $30.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, August 9th. Barclays PLC set a $19.00 price objective on Nuance Communications and gave the company a hold rating in a research note on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. restated an outperform rating and set a $26.00 price objective on shares of Nuance Communications in a research note on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $21.82.
Shares of Nuance Communications (NASDAQ:NUAN) traded up 0.55% during midday trading on Wednesday, hitting $14.71. 131,439 shares of the stock were exchanged. The company’s market cap is $4.11 billion. Nuance Communications has a one year low of $13.74 and a one year high of $21.83. The firm has a 50 day moving average of $14.53 and a 200-day moving average of $16.21.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Monday, August 8th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The business had revenue of $484.90 million for the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. The company’s revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. Equities analysts expect that Nuance Communications will post $1.51 EPS for the current year.
In related news, VP Adam Bruce Bowden sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $14.45, for a total value of $57,800.00. Following the sale, the vice president now owns 178,195 shares of the company’s stock, valued at approximately $2,574,917.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.23% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Nuance Communications during the second quarter valued at about $49,969,000. AQR Capital Management LLC increased its stake in shares of Nuance Communications by 150.0% in the second quarter. AQR Capital Management LLC now owns 4,429,776 shares of the company’s stock valued at $69,238,000 after buying an additional 2,657,896 shares during the period. Vanguard Group Inc. increased its stake in shares of Nuance Communications by 12.9% in the second quarter. Vanguard Group Inc. now owns 19,511,687 shares of the company’s stock valued at $304,969,000 after buying an additional 2,236,823 shares during the period. Numeric Investors LLC increased its stake in shares of Nuance Communications by 83.0% in the second quarter. Numeric Investors LLC now owns 4,244,907 shares of the company’s stock valued at $66,348,000 after buying an additional 1,925,807 shares during the period. Finally, BlackRock Advisors LLC increased its stake in shares of Nuance Communications by 338.3% in the second quarter. BlackRock Advisors LLC now owns 1,728,518 shares of the company’s stock valued at $27,017,000 after buying an additional 1,334,153 shares during the period. 85.18% of the stock is currently owned by institutional investors and hedge funds.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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