Analysts Set Nuance Communications, Inc. (NUAN) Price Target at $20.86

Shares of Nuance Communications, Inc. (NASDAQ:NUAN) have received a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.86.

Several research analysts have recently issued reports on NUAN shares. Morgan Stanley raised Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Thursday, November 2nd. Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $18.00 price target (down previously from $19.00) on shares of Nuance Communications in a research note on Wednesday. Raymond James Financial cut their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 9th. Finally, Deutsche Bank cut their price target on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th.

In related news, EVP Kenneth M. Siegel sold 4,682 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $14.40, for a total value of $67,420.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel David Tempesta sold 6,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 258,188 shares of the company’s stock, valued at approximately $4,022,569.04. The disclosure for this sale can be found here. Insiders sold a total of 15,864 shares of company stock valued at $243,603 in the last three months. 1.67% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in Nuance Communications in the 2nd quarter valued at about $103,000. Commonwealth Bank of Australia raised its stake in Nuance Communications by 29.6% in the 2nd 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. Exane Derivatives raised its stake in Nuance Communications by 250.3% in the 3rd 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. Daiwa Securities Group Inc. raised its stake in Nuance Communications by 23.5% in the 2nd 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. Finally, SG Americas Securities LLC acquired a new position in Nuance Communications in the 3rd quarter valued at about $149,000. 85.57% of the stock is owned by hedge funds and other institutional investors.

Nuance Communications (NUAN) traded up $0.26 during trading hours on Thursday, hitting $15.80. The stock had a trading volume of 5,734,050 shares, compared to its average volume of 4,518,316. The firm has a market cap of $4,586.39, a P/E ratio of 19.75, a PEG ratio of 1.84 and a beta of 0.60. The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Nuance Communications has a fifty-two week low of $14.02 and a fifty-two week high of $19.93.

Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Tuesday, November 28th. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The business had revenue of $474.70 million during the quarter, compared to the consensus estimate of $457.09 million. Nuance Communications had a positive return on equity of 12.15% and a negative net margin of 7.75%. The business’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. equities analysts forecast that Nuance Communications will post 0.81 EPS for the current year.

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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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