Research analysts at SVB Leerink started coverage on shares of Nuance Communications (NASDAQ:NUAN) in a report released on Monday, MarketBeat reports. The brokerage set an “outperform” rating and a $31.00 price target on the software maker’s stock. SVB Leerink’s price target would indicate a potential upside of 22.51% from the company’s current price.
NUAN has been the topic of several other reports. Guggenheim assumed coverage on Nuance Communications in a report on Tuesday, April 14th. They set a “neutral” rating on the stock. Zacks Investment Research cut Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. Morgan Stanley reduced their target price on Nuance Communications from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Finally, BidaskClub upgraded Nuance Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.33.
Shares of NASDAQ NUAN opened at $25.31 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.45. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 47.75, a PEG ratio of 11.37 and a beta of 1.02. Nuance Communications has a 12 month low of $13.51 and a 12 month high of $26.01. The stock has a 50-day moving average price of $22.64 and a two-hundred day moving average price of $19.92.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Thursday, May 7th. The software maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.04. The firm had revenue of $369.55 million during the quarter, compared to the consensus estimate of $351.56 million. Nuance Communications had a return on equity of 12.80% and a net margin of 9.06%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, sell-side analysts predict that Nuance Communications will post 0.45 earnings per share for the current year.
In other news, EVP Robert Weideman sold 62,698 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $19.03, for a total transaction of $1,193,142.94. Following the transaction, the executive vice president now directly owns 512,165 shares of the company’s stock, valued at $9,746,499.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel David Tempesta sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.00, for a total value of $42,500.00. Following the transaction, the chief financial officer now directly owns 555,103 shares in the company, valued at $9,436,751. The disclosure for this sale can be found here. Insiders have sold 156,734 shares of company stock worth $3,042,563 over the last ninety days. 0.50% of the stock is owned by insiders.
Several large investors have recently modified their holdings of NUAN. Parnassus Investments CA purchased a new stake in Nuance Communications in the 1st quarter valued at $115,576,000. Eminence Capital LP purchased a new stake in Nuance Communications in the 1st quarter valued at $49,333,000. Norges Bank purchased a new stake in Nuance Communications in the 4th quarter valued at $44,556,000. Renaissance Technologies LLC purchased a new stake in Nuance Communications in the 4th quarter valued at $40,357,000. Finally, Prudential PLC raised its position in Nuance Communications by 91.3% in the 1st quarter. Prudential PLC now owns 3,569,868 shares of the software maker’s stock valued at $59,902,000 after buying an additional 1,704,004 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.
About Nuance Communications
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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