Deutsche Bank AG Trims Nuance Communications, Inc. (NUAN) Target Price to $23.00

Nuance Communications, Inc. (NASDAQ:NUAN) had its price target decreased by Deutsche Bank AG from $25.00 to $23.00 in a research report report published on Wednesday, August 9th. Deutsche Bank AG currently has a buy rating on the software maker’s stock.

A number of other research analysts also recently weighed in on NUAN. Barclays PLC reiterated a buy rating and issued a $22.00 price objective on shares of Nuance Communications in a research report on Friday, May 12th. Canaccord Genuity decreased their price objective on shares of Nuance Communications from $22.00 to $21.00 and set a buy rating for the company in a research report on Wednesday, August 9th. Morgan Stanley reiterated an equal weight rating and issued a $18.00 price objective (down previously from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Stifel Nicolaus upped their price objective on shares of Nuance Communications from $16.00 to $19.00 and gave the stock a hold rating in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded shares of Nuance Communications from a sell rating to a hold rating in a research report on Wednesday, April 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Nuance Communications currently has a consensus rating of Hold and an average target price of $20.11.

Shares of Nuance Communications (NASDAQ NUAN) traded down 1.01% during midday trading on Wednesday, reaching $15.70. The company’s stock had a trading volume of 1,961,398 shares. The stock has a 50-day moving average of $17.01 and a 200 day moving average of $17.44. Nuance Communications has a 12-month low of $13.44 and a 12-month high of $19.93. The firm’s market capitalization is $4.53 billion.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $495.60 million for 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 company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Equities research analysts predict that Nuance Communications will post $1.00 EPS for the current fiscal year.

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In other news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $17.36, for a total transaction of $130,200.00. Following the completion of the sale, the insider now owns 270,810 shares of the company’s stock, valued at $4,701,261.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Ricci sold 139,267 shares of the business’s stock in a transaction dated 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 directly owns 2,090,036 shares of the company’s stock, valued at approximately $39,919,687.60. The disclosure for this sale can be found here. Insiders have sold 171,267 shares of company stock valued at $3,239,095 in the last three months. Corporate insiders own 1.67% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of Nuance Communications by 14.4% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 238,600 shares of the software maker’s stock valued at $4,130,000 after buying an additional 29,975 shares in the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of Nuance Communications during the first quarter valued at about $756,000. IFP Advisors Inc boosted its stake in shares of Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock valued at $143,000 after buying an additional 400 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Nuance Communications during the first quarter valued at about $17,310,000. Finally, New Jersey Better Educational Savings Trust acquired a new stake in shares of Nuance Communications during the first quarter valued at about $485,000. 85.65% of the stock is owned by institutional investors.

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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