Oppenheimer Holdings Comments on Nuance Communications, Inc.’s FY2017 Earnings (NUAN)

Nuance Communications, Inc. (NASDAQ:NUAN) – Equities researchers at Oppenheimer Holdings reduced their FY2017 earnings per share estimates for shares of Nuance Communications in a research note issued on Wednesday. Oppenheimer Holdings analyst S. Eyal now expects that the software maker will earn $0.59 per share for the year, down from their prior forecast of $0.73. Oppenheimer Holdings has a “Outperform” rating and a $23.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Nuance Communications’ Q2 2018 earnings at $0.18 EPS and Q3 2018 earnings at $0.17 EPS.

Nuance Communications (NASDAQ:NUAN) last announced 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 positive return on equity of 14.76% and a negative net margin of 3.38%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS.

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Several other equities analysts have also weighed in on NUAN. Canaccord Genuity reduced 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. Barclays PLC reduced their price objective on shares of Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday. Raymond James Financial, Inc. reduced their price objective on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Deutsche Bank AG reduced their price objective on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.11.

Nuance Communications (NUAN) opened at 16.15 on Friday. The firm’s market cap is $4.66 billion. The firm’s 50-day moving average is $17.33 and its 200-day moving average is $17.44. Nuance Communications has a 12 month low of $13.44 and a 12 month high of $19.93.

In other news, CEO Paul Ricci sold 139,267 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total value of $2,659,999.70. Following the completion of the sale, the chief executive officer now directly owns 2,090,036 shares of the company’s stock, valued at $39,919,687.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katherine A. Martin sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $18.34, for a total transaction of $183,400.00. Following the completion of the sale, the director now directly owns 87,880 shares of the company’s stock, valued at $1,611,719.20. The disclosure for this sale can be found here. Insiders sold 186,267 shares of company stock valued at $3,518,245 over the last three months. 1.67% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of NUAN. BNP Paribas Arbitrage SA raised its stake in Nuance Communications by 414.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,767 shares of the software maker’s stock worth $602,000 after buying an additional 28,003 shares during the period. Farmers & Merchants Investments Inc. raised its stake in Nuance Communications by 19.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 119,420 shares of the software maker’s stock worth $2,068,000 after buying an additional 19,308 shares during the period. Reliance Trust Co. of Delaware raised its stake in Nuance Communications by 9.3% in the first quarter. Reliance Trust Co. of Delaware now owns 57,294 shares of the software maker’s stock worth $991,000 after buying an additional 4,887 shares during the period. Stoneridge Investment Partners LLC bought a new stake in Nuance Communications during the first quarter worth about $1,071,000. Finally, Geode Capital Management LLC raised its stake in Nuance Communications by 10.3% in the first quarter. Geode Capital Management LLC now owns 2,050,451 shares of the software maker’s stock worth $35,478,000 after buying an additional 190,991 shares during the period. 84.01% of the stock is owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Nuance Communications (NASDAQ:NUAN)

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