Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a report issued on Thursday morning, Zacks.com reports. They currently have $18.00 target price on the software maker’s stock.
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. “
NUAN has been the subject of a number of other reports. ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a research report on Friday, June 21st. Wedbush set a $11.00 price target on shares of Sangamo Therapeutics and gave the company a hold rating in a research report on Sunday, June 23rd. Finally, BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $18.80.
NUAN opened at $16.33 on Thursday. The firm’s fifty day moving average price is $16.52. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 4.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. Nuance Communications has a one year low of $12.66 and a one year high of $18.16.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The firm had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $449.90 million. Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Research analysts forecast that Nuance Communications will post 0.8 earnings per share for the current year.
In related news, insider Robert Weideman sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $16.93, for a total value of $203,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $16.04, for a total transaction of $133,148.04. Following the completion of the transaction, the executive vice president now owns 284,993 shares of the company’s stock, valued at $4,571,287.72. The disclosure for this sale can be found here. Insiders sold 110,324 shares of company stock valued at $1,882,564 over the last quarter. 0.68% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in NUAN. Norges Bank purchased a new position in Nuance Communications in the fourth quarter worth $25,667,000. Millennium Management LLC grew its position in Nuance Communications by 130.0% in the fourth quarter. Millennium Management LLC now owns 2,158,290 shares of the software maker’s stock worth $28,554,000 after acquiring an additional 1,219,764 shares in the last quarter. Two Sigma Investments LP grew its position in Nuance Communications by 3,540.5% in the fourth quarter. Two Sigma Investments LP now owns 810,297 shares of the software maker’s stock worth $10,720,000 after acquiring an additional 788,039 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Nuance Communications in the fourth quarter worth $9,587,000. Finally, Park West Asset Management LLC lifted its stake in Nuance Communications by 128.6% in the fourth quarter. Park West Asset Management LLC now owns 594,357 shares of the software maker’s stock worth $7,863,000 after purchasing an additional 334,357 shares during the last quarter. Institutional investors own 87.83% of the company’s stock.
Nuance Communications Company Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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