Wedbush Reaffirms “Buy” Rating for Nuance Communications (NASDAQ:NUAN)

Wedbush reiterated their buy rating on shares of Nuance Communications (NASDAQ:NUAN) in a research report report published on Sunday, AnalystRatings.com reports. The firm currently has a $22.00 target price on the software maker’s stock.

A number of other equities research analysts have also recently commented on the company. ValuEngine cut Nuance Communications from a buy rating to a hold rating in a report on Friday, June 21st. Zacks Investment Research raised Nuance Communications from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Wednesday, May 15th. Finally, BidaskClub raised Nuance Communications from a sell rating to a hold rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $19.20.

Shares of NASDAQ:NUAN opened at $15.76 on Friday. The company’s fifty day moving average is $17.26. The firm has a market cap of $4.76 billion, a PE ratio of 19.46, a PEG ratio of 4.11 and a beta of 1.05. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. Nuance Communications has a one year low of $12.66 and a one year high of $18.16.

Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The company had revenue of $451.00 million for the quarter, compared to analyst estimates of $449.90 million. Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. Nuance Communications’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. As a group, equities analysts anticipate that Nuance Communications will post 0.8 EPS for the current year.

In other Nuance Communications news, insider Robert Weideman sold 12,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $17.00, for a total transaction of $204,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark D. Benjamin sold 45,396 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $17.40, for a total value of $789,890.40. Following the transaction, the chief executive officer now directly owns 629,430 shares in the company, valued at approximately $10,952,082. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,324 shares of company stock worth $1,998,293. Corporate insiders own 0.68% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NUAN. Vanguard Group Inc raised its holdings in shares of Nuance Communications by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 25,400,568 shares of the software maker’s stock worth $439,938,000 after acquiring an additional 81,511 shares in the last quarter. Rhumbline Advisers increased its position in shares of Nuance Communications by 1.3% during the 4th quarter. Rhumbline Advisers now owns 264,901 shares of the software maker’s stock valued at $3,505,000 after purchasing an additional 3,338 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Nuance Communications during the 4th quarter valued at approximately $175,000. Prudential Financial Inc. increased its position in shares of Nuance Communications by 4,465.5% during the 4th quarter. Prudential Financial Inc. now owns 811,748 shares of the software maker’s stock valued at $10,739,000 after purchasing an additional 793,968 shares during the last quarter. Finally, FDx Advisors Inc. increased its position in shares of Nuance Communications by 4.8% during the 4th quarter. FDx Advisors Inc. now owns 16,403 shares of the software maker’s stock valued at $217,000 after purchasing an additional 758 shares during the last quarter. 87.83% of the stock is currently owned by institutional investors and hedge funds.

About Nuance Communications

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; 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.

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Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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