Nuance Communications (NUAN) Bonds Drop 0.6% During Trading

An issue of Nuance Communications Inc. (NASDAQ:NUAN) debt fell 0.6% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 5.625% coupon and will mature on December 15, 2026. The debt is now trading at $100.00 and was trading at $99.25 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several analysts recently commented on NUAN shares. Morgan Stanley set a $20.00 price objective on shares of Nuance Communications and gave the company a “buy” rating in a research note on Thursday, March 22nd. Zacks Investment Research cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Canaccord Genuity restated a “buy” rating and set a $21.00 target price on shares of Nuance Communications in a research report on Monday, January 22nd. BidaskClub cut shares of Nuance Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Finally, Oppenheimer restated a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $20.75.

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NUAN traded down $0.20 during midday trading on Thursday, reaching $15.11. 255,795 shares of the company’s stock were exchanged, compared to its average volume of 2,572,144. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. The stock has a market cap of $4,525.91, a P/E ratio of 25.24, a PEG ratio of 1.55 and a beta of 0.64. Nuance Communications Inc. has a 1-year low of $14.02 and a 1-year high of $19.93.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $508.80 million during the quarter, compared to the consensus estimate of $508.55 million. Nuance Communications had a negative net margin of 3.76% and a positive return on equity of 11.62%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. analysts forecast that Nuance Communications Inc. will post 0.83 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of NUAN. Victory Capital Management Inc. grew its holdings in shares of Nuance Communications by 955.0% during the fourth quarter. Victory Capital Management Inc. now owns 6,737,164 shares of the software maker’s stock worth $110,153,000 after buying an additional 6,098,570 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Nuance Communications by 136.5% during the fourth quarter. Millennium Management LLC now owns 1,902,239 shares of the software maker’s stock worth $31,102,000 after buying an additional 1,097,864 shares in the last quarter. SG Capital Management LLC purchased a new stake in shares of Nuance Communications during the fourth quarter worth about $14,507,000. Assenagon Asset Management S.A. purchased a new stake in shares of Nuance Communications during the fourth quarter worth about $10,856,000. Finally, Two Sigma Advisers LP grew its holdings in shares of Nuance Communications by 34.9% during the fourth quarter. Two Sigma Advisers LP now owns 2,278,465 shares of the software maker’s stock worth $37,253,000 after buying an additional 589,706 shares in the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.

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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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