Shares of Nuance Communications Inc. (NASDAQ:NUAN) have earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.57.
Several analysts recently weighed in on the company. BidaskClub raised Nuance Communications from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised Nuance Communications from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, August 15th. ValuEngine raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Standpoint Research cut Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, Barclays lifted their price target on Nuance Communications from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, August 9th.
In other Nuance Communications news, insider Daniel David Tempesta sold 7,500 shares of Nuance Communications stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $16.30, for a total value of $122,250.00. Following the completion of the transaction, the insider now directly owns 332,883 shares of the company’s stock, valued at approximately $5,425,992.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Weideman sold 8,350 shares of Nuance Communications stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $16.30, for a total value of $136,105.00. Following the completion of the transaction, the executive vice president now directly owns 428,740 shares of the company’s stock, valued at $6,988,462. The disclosure for this sale can be found here. Insiders sold a total of 26,350 shares of company stock valued at $431,680 over the last ninety days. Insiders own 1.67% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Icon Wealth Partners LLC acquired a new position in shares of Nuance Communications during the 2nd quarter worth $116,000. Bristol John W & Co. Inc. NY acquired a new position in shares of Nuance Communications during the 1st quarter worth $138,000. Signition LP acquired a new position in shares of Nuance Communications during the 1st quarter worth $167,000. A.R.T. Advisors LLC acquired a new position in shares of Nuance Communications during the 1st quarter worth $184,000. Finally, Global X Management Co LLC acquired a new position in shares of Nuance Communications during the 2nd quarter worth $184,000. 88.68% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:NUAN traded down $0.03 during mid-day trading on Thursday, hitting $16.88. 59,185 shares of the stock were exchanged, compared to its average volume of 1,965,568. The stock has a market cap of $4.93 billion, a P/E ratio of 28.18, a PEG ratio of 1.92 and a beta of 0.74. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.32. Nuance Communications has a fifty-two week low of $12.18 and a fifty-two week high of $18.75.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Wednesday, August 8th. The software maker reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $502.89 million during the quarter, compared to analysts’ expectations of $495.53 million. Nuance Communications had a positive return on equity of 9.67% and a negative net margin of 9.55%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.30 EPS. sell-side analysts forecast that Nuance Communications will post 0.75 EPS for the current year.
Nuance Communications declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Nuance Communications Company Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
Featured Article: Market Capitalization
Receive News & Ratings for Nuance Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications and related companies with MarketBeat.com's FREE daily email newsletter.