Nuance Communications (NASDAQ:NUAN) Rating Increased to Buy 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 published on Saturday, Zacks.com reports. The brokerage currently has $20.00 target price 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. “

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of Nuance Communications from a buy rating to a hold rating in a report on Friday, June 21st. BidaskClub cut shares of Nuance Communications from a sell rating to a strong sell rating in a report on Wednesday, September 4th. Finally, Wedbush reaffirmed a buy rating and issued a $22.00 price target on shares of Nuance Communications in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Nuance Communications presently has a consensus rating of Hold and an average price target of $19.67.

NUAN opened at $17.37 on Friday. The stock has a market capitalization of $4.96 billion, a PE ratio of 21.44, a P/E/G ratio of 4.28 and a beta of 0.94. The firm’s fifty day moving average price is $16.79 and its 200 day moving average price is $16.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.77. Nuance Communications has a 12-month low of $12.66 and a 12-month high of $18.16.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $455.93 million. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. On average, equities research analysts forecast that Nuance Communications will post 0.82 earnings per share for the current fiscal year.

In other Nuance Communications news, insider Robert Weideman sold 6,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $16.04, for a total transaction of $96,240.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $16.04, for a total transaction of $133,148.04. Following the sale, the executive vice president now directly owns 284,993 shares in the company, valued at $4,571,287.72. The disclosure for this sale can be found here. Insiders sold 68,152 shares of company stock worth $1,147,376 over the last ninety days. 0.68% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Nuance Communications by 0.8% during the second quarter. Vanguard Group Inc. now owns 26,328,658 shares of the software maker’s stock worth $420,468,000 after purchasing an additional 204,438 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Nuance Communications by 1.2% during the first quarter. Clearbridge Investments LLC now owns 24,065,209 shares of the software maker’s stock worth $407,424,000 after purchasing an additional 277,227 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Nuance Communications by 10.4% during the second quarter. Victory Capital Management Inc. now owns 16,946,256 shares of the software maker’s stock worth $270,632,000 after purchasing an additional 1,599,212 shares during the period. FIL Ltd raised its holdings in shares of Nuance Communications by 2.9% during the first quarter. FIL Ltd now owns 9,191,377 shares of the software maker’s stock worth $155,610,000 after purchasing an additional 262,083 shares during the period. Finally, RGM Capital LLC raised its holdings in shares of Nuance Communications by 5.4% during the second quarter. RGM Capital LLC now owns 6,016,877 shares of the software maker’s stock worth $96,090,000 after purchasing an additional 306,700 shares during the period. 88.63% of the stock is currently owned by institutional investors.

Nuance Communications Company Profile

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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