Oppenheimer Reiterates Buy Rating for Nuance Communications (NUAN)

Nuance Communications (NASDAQ:NUAN)‘s stock had its “buy” rating reaffirmed by analysts at Oppenheimer in a note issued to investors on Monday. They presently have a $23.00 target price on the software maker’s stock. Oppenheimer’s target price would suggest a potential upside of 36.34% from the stock’s previous close.

NUAN has been the subject of a number of other reports. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. TheStreet cut shares of Nuance Communications from a “c” rating to a “d+” rating in a research note on Tuesday, November 28th. Morgan Stanley upgraded shares of Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 price objective for the company in a research note on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating and issued a $18.00 price objective (down previously from $19.00) on shares of Nuance Communications in a research note on Wednesday, November 29th. Finally, BidaskClub upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Nuance Communications has an average rating of “Buy” and an average target price of $20.50.

Shares of Nuance Communications (NASDAQ NUAN) traded up $0.28 during trading on Monday, reaching $16.87. 3,627,100 shares of the company’s stock were exchanged, compared to its average volume of 2,845,380. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.16. Nuance Communications has a 12-month low of $14.02 and a 12-month high of $19.93. The company has a market cap of $4,896.99, a P/E ratio of 21.09, a PEG ratio of 1.74 and a beta of 0.60.

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

In other news, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total value of $101,270.00. Following the completion of the transaction, the insider now owns 258,188 shares in the company, valued at approximately $4,022,569.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,864 shares of company stock valued at $243,603. Corporate insiders own 1.67% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. increased its position in shares of Nuance Communications by 1.3% during the 2nd quarter. Moors & Cabot Inc. now owns 11,215 shares of the software maker’s stock worth $193,000 after purchasing an additional 140 shares in the last quarter. Sicart Associates LLC increased its position in shares of Nuance Communications by 0.5% during the 2nd quarter. Sicart Associates LLC now owns 86,925 shares of the software maker’s stock worth $1,513,000 after purchasing an additional 400 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Nuance Communications by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 50,279 shares of the software maker’s stock worth $875,000 after purchasing an additional 474 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Nuance Communications by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock worth $178,000 after purchasing an additional 809 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Nuance Communications by 1.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 118,528 shares of the software maker’s stock worth $2,064,000 after purchasing an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 85.06% of the company’s stock.

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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.

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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