Nuance Communications, Inc. (NASDAQ:NUAN) – Equities research analysts at Oppenheimer Holdings decreased their FY2017 EPS estimates for Nuance Communications in a research note issued on Wednesday. Oppenheimer Holdings analyst S. Eyal now anticipates that the software maker will earn $0.59 per share for the year, down from their prior forecast of $0.73. Oppenheimer Holdings has a “Outperform” rating and a $23.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Nuance Communications’ Q2 2018 earnings at $0.18 EPS and Q3 2018 earnings at $0.17 EPS.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by $0.09. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.76%. The business had revenue of $495.60 million for the quarter, compared to analyst estimates of $495.57 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis.
A number of other brokerages have also issued reports on NUAN. Zacks Investment Research lowered shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 17th. BidaskClub lowered shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Morgan Stanley restated an “equal weight” rating and set a $18.00 target price (down from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Barclays PLC lowered their target price on shares of Nuance Communications from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Raymond James Financial, Inc. lowered their target price on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.11.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 16.15 on Friday. Nuance Communications has a 52 week low of $13.44 and a 52 week high of $19.93. The firm’s 50-day moving average is $17.33 and its 200 day moving average is $17.44. The firm’s market capitalization is $4.65 billion.
A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in Nuance Communications by 414.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,767 shares of the software maker’s stock worth $602,000 after buying an additional 28,003 shares during the period. Farmers & Merchants Investments Inc. raised its position in Nuance Communications by 19.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 119,420 shares of the software maker’s stock worth $2,068,000 after buying an additional 19,308 shares during the period. Reliance Trust Co. of Delaware raised its position in Nuance Communications by 9.3% in the first quarter. Reliance Trust Co. of Delaware now owns 57,294 shares of the software maker’s stock worth $991,000 after buying an additional 4,887 shares during the period. Stoneridge Investment Partners LLC purchased a new position in Nuance Communications during the first quarter worth $1,071,000. Finally, Geode Capital Management LLC raised its position in Nuance Communications by 10.3% in the first quarter. Geode Capital Management LLC now owns 2,050,451 shares of the software maker’s stock worth $35,478,000 after buying an additional 190,991 shares during the period. Hedge funds and other institutional investors own 84.01% of the company’s stock.
In related news, VP Adam Bruce Bowden sold 5,000 shares of Nuance Communications stock in a transaction on Monday, May 15th. The shares were sold at an average price of $19.15, for a total value of $95,750.00. Following the transaction, the vice president now directly owns 149,414 shares in the company, valued at approximately $2,861,278.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel David Tempesta sold 7,500 shares of Nuance Communications stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $18.80, for a total transaction of $141,000.00. Following the completion of the transaction, the insider now owns 295,310 shares in the company, valued at $5,551,828. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,267 shares of company stock worth $3,518,245. 1.67% of the stock is currently owned by insiders.
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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