Nuance Communications (NASDAQ:NUAN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Nuance Communications (NASDAQ:NUAN) from a hold rating to a buy rating in a report issued on Tuesday, December 5th. They currently have $18.00 price target on the software maker’s stock.

According to Zacks, “Nuance Communications, Inc. is the leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. “

NUAN has been the topic of several other reports. Morgan Stanley upgraded shares of Nuance Communications from an equal weight rating to an overweight rating and set a $18.00 price target on the stock in a report on Thursday, November 2nd. TheStreet cut shares of Nuance Communications from a c rating to a d+ rating in a report on Tuesday, November 28th. Oppenheimer reaffirmed a buy rating and issued a $23.00 price objective on shares of Nuance Communications in a research note on Wednesday, November 29th. Stifel Nicolaus reaffirmed a hold rating and issued a $18.00 price objective (down previously from $19.00) on shares of Nuance Communications in a research note on Wednesday, November 29th. Finally, Raymond James Financial cut their target price on shares of Nuance Communications from $24.00 to $22.00 and set a strong-buy rating for the company in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Nuance Communications presently has an average rating of Buy and a consensus target price of $20.50.

Nuance Communications (NASDAQ:NUAN) traded down $0.03 on Tuesday, hitting $16.35. The stock had a trading volume of 2,304,107 shares, compared to its average volume of 3,458,826. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $4,754.76, a PE ratio of -30.85, a PEG ratio of 1.69 and a beta of 0.60. Nuance Communications has a 52 week low of $14.02 and a 52 week high of $19.93.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The firm had revenue of $474.70 million for the quarter, compared to analysts’ expectations of $457.09 million. During the same period in the previous year, the company posted $0.41 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. equities analysts forecast that Nuance Communications will post 0.81 earnings per share for the current fiscal year.

In other Nuance Communications news, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total value of $101,270.00. Following the sale, the insider now directly owns 258,188 shares in the company, valued at $4,022,569.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Insiders sold 15,864 shares of company stock worth $243,603 over the last 90 days. 1.67% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Nuance Communications by 1.5% during the second quarter. Vanguard Group Inc. now owns 23,288,701 shares of the software maker’s stock worth $405,455,000 after acquiring an additional 335,427 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Nuance Communications by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 18,257,115 shares of the software maker’s stock worth $286,977,000 after acquiring an additional 637,014 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Nuance Communications by 29.4% during the third quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock worth $84,746,000 after acquiring an additional 1,224,085 shares in the last quarter. Sirios Capital Management L P increased its position in shares of Nuance Communications by 30.9% during the third quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock worth $78,838,000 after acquiring an additional 1,183,013 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Nuance Communications by 6.0% during the third quarter. Neuberger Berman Group LLC now owns 4,903,924 shares of the software maker’s stock worth $77,090,000 after acquiring an additional 277,184 shares in the last quarter. 84.94% of the stock is owned by institutional investors.

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Nuance Communications Company Profile

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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