Nuance Communications (NASDAQ:NUAN) Given New $27.00 Price Target at Wedbush

Nuance Communications (NASDAQ:NUAN) had its price objective lifted by Wedbush from $24.00 to $27.00 in a report released on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the software maker’s stock.

NUAN has been the topic of a number of other research reports. ValuEngine lowered Nuance Communications from a buy rating to a hold rating in a research report on Wednesday, November 20th. Morgan Stanley upgraded Nuance Communications from an equal weight rating to an overweight rating and upped their price target for the company from $15.00 to $23.00 in a research report on Monday, January 13th. Barclays reduced their price target on Nuance Communications from $20.00 to $17.00 and set an overweight rating on the stock in a research report on Monday, October 7th. BidaskClub upgraded Nuance Communications from a sell rating to a hold rating in a research report on Saturday, January 18th. Finally, Zacks Investment Research lowered Nuance Communications from a hold rating to a sell rating in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Nuance Communications currently has an average rating of Buy and a consensus price target of $23.00.

NUAN stock traded down $0.21 during midday trading on Tuesday, reaching $19.59. 1,076,892 shares of the stock were exchanged, compared to its average volume of 2,690,788. The stock has a market capitalization of $5.63 billion, a PE ratio of 26.12, a P/E/G ratio of 8.08 and a beta of 0.95. Nuance Communications has a 52 week low of $14.02 and a 52 week high of $20.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.68. The company has a fifty day moving average price of $18.30 and a 200 day moving average price of $16.92.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Wednesday, November 20th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. Nuance Communications had a return on equity of 12.42% and a net margin of 11.83%. The business had revenue of $471.97 million for the quarter, compared to analyst estimates of $486.13 million. During the same quarter in the previous year, the company posted $0.38 EPS. Nuance Communications’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Nuance Communications will post 0.5 earnings per share for the current fiscal year.

In related news, EVP Wendy Cassity sold 13,656 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $17.51, for a total transaction of $239,116.56. Following the sale, the executive vice president now owns 111,640 shares in the company, valued at approximately $1,954,816.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Beaudoin sold 12,355 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $16.60, for a total value of $205,093.00. Following the sale, the executive vice president now owns 255,884 shares in the company, valued at approximately $4,247,674.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,374 shares of company stock worth $1,108,662. 0.50% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in shares of Nuance Communications during the 2nd quarter valued at about $26,000. Evoke Wealth LLC acquired a new position in Nuance Communications during the 3rd quarter worth approximately $30,000. Exchange Traded Concepts LLC acquired a new position in Nuance Communications during the 4th quarter worth approximately $71,000. Cerebellum GP LLC acquired a new position in Nuance Communications during the 3rd quarter worth approximately $80,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Nuance Communications during the 4th quarter worth approximately $96,000. Institutional investors own 90.62% of the company’s stock.

Nuance Communications Company Profile

Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.

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