Nuance Communications, Inc. (NUAN) Given Consensus Rating of “Buy” by Brokerages

Nuance Communications, Inc. (NASDAQ:NUAN) has been assigned an average rating of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.38.

A number of brokerages have recently commented on NUAN. Zacks Investment Research cut shares of Nuance Communications from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Morgan Stanley reissued an “equal weight” rating and set a $18.00 price target (down from $19.00) on shares of Nuance Communications in a report on Tuesday, July 25th. BidaskClub cut shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Raymond James Financial, Inc. cut their price target on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 9th. Finally, Deutsche Bank AG cut their price target on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, August 9th.

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Shares of Nuance Communications (NUAN) traded down $0.09 during trading hours on Friday, hitting $15.31. 2,348,610 shares of the stock were exchanged, compared to its average volume of 2,220,497. Nuance Communications has a 1-year low of $13.44 and a 1-year high of $19.93. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $4,418.45, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.79 and a beta of 0.58.

Nuance Communications (NASDAQ:NUAN) last announced its 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). Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The business had revenue of $495.60 million during the quarter, compared to analysts’ expectations of $495.57 million. During the same period in the previous year, the company posted $0.38 earnings per share. Nuance Communications’s quarterly revenue was up 2.2% on a year-over-year basis. equities research analysts forecast that Nuance Communications will post 0.6 earnings per share for the current fiscal year.

In other Nuance Communications news, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $16.00, for a total transaction of $74,912.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the completion of the sale, the insider now owns 258,188 shares in the company, valued at $4,022,569.04. The disclosure for this sale can be found here. Insiders have sold 17,682 shares of company stock worth $280,117 over the last 90 days. 1.67% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Nuance Communications in the second quarter valued at approximately $103,000. Commonwealth Bank of Australia grew its position in shares of Nuance Communications by 29.6% in the second quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock valued at $121,000 after purchasing an additional 1,600 shares during the last quarter. Ledyard National Bank grew its position in shares of Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock valued at $125,000 after purchasing an additional 330 shares during the last quarter. Exane Derivatives grew its position in shares of Nuance Communications by 250.3% in the third quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock valued at $130,000 after purchasing an additional 5,912 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Nuance Communications by 23.5% in the second quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock valued at $146,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 84.16% of the company’s stock.

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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