Shares of Nuance Communications Inc. (NASDAQ:NUAN) have been assigned an average rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $20.38.
A number of equities research analysts have issued reports on NUAN shares. Deutsche Bank AG restated a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a research note on Monday, June 12th. Canaccord Genuity cut their price target on Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th. Morgan Stanley restated an “equal weight” rating and set a $18.00 price target (down from $19.00) on shares of Nuance Communications in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Nuance Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $23.00 price target (down from $26.00) on shares of Nuance Communications in a research note on Thursday, August 10th.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.09). The firm had revenue of $495.60 million for the quarter, compared to the consensus estimate of $495.57 million. Nuance Communications had a negative net margin of 5.72% and a negative return on equity of 5.72%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share.
In other Nuance Communications news, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $17.36, for a total value of $130,200.00. Following the completion of the transaction, the insider now directly owns 270,810 shares in the company, valued at approximately $4,701,261.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 21,500 shares of company stock valued at $364,785. 1.67% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new position in Nuance Communications in the 2nd quarter worth approximately $103,000. Daiwa Securities Group Inc. boosted its stake in Nuance Communications by 19.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after purchasing an additional 1,100 shares during the period. Commonwealth Bank of Australia boosted its stake in Nuance Communications by 29.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after purchasing an additional 1,600 shares during the period. Ledyard National Bank boosted its stake in Nuance Communications by 4.8% in the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after purchasing an additional 330 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Nuance Communications by 8.6% in 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 during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.
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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.
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