Nuance Communications Inc. (NASDAQ:NUAN) Receives $16.00 Average Price Target from Analysts

Nuance Communications Inc. (NASDAQ:NUAN) has earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.00.

Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. ValuEngine lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Wedbush assumed coverage on shares of Nuance Communications in a research note on Friday, September 27th. They set an “outperform” rating on the stock. Morgan Stanley lowered their target price on shares of Nuance Communications from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, September 23rd. Finally, Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

In related news, major shareholder Nuance Communications, Inc. sold 650,736 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $17.00, for a total value of $11,062,512.00. Following the transaction, the insider now directly owns 35,740,709 shares of the company’s stock, valued at approximately $607,592,053. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Weideman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $16.53, for a total transaction of $99,180.00. Following the completion of the transaction, the executive vice president now directly owns 432,959 shares in the company, valued at $7,156,812.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 704,587 shares of company stock worth $11,980,500. Corporate insiders own 0.68% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Nuance Communications by 25.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock valued at $53,000 after buying an additional 628 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in Nuance Communications by 1.5% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 43,104 shares of the software maker’s stock valued at $688,000 after buying an additional 655 shares in the last quarter. First Trust Advisors LP lifted its stake in Nuance Communications by 1.9% in the 1st quarter. First Trust Advisors LP now owns 40,358 shares of the software maker’s stock valued at $683,000 after buying an additional 766 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Nuance Communications by 1.8% in the 3rd quarter. Pacer Advisors Inc. now owns 46,038 shares of the software maker’s stock valued at $751,000 after buying an additional 826 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its stake in Nuance Communications by 24.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,645 shares of the software maker’s stock valued at $74,000 after buying an additional 900 shares in the last quarter. 88.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NUAN stock traded down $0.04 during mid-day trading on Monday, hitting $15.30. 1,664,500 shares of the stock were exchanged, compared to its average volume of 2,003,066. The firm has a fifty day moving average of $16.46 and a 200 day moving average of $16.72. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. Nuance Communications has a 52-week low of $12.66 and a 52-week high of $18.16. The company has a market cap of $4.38 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. The business had revenue of $460.20 million for the quarter, compared to analyst estimates of $455.93 million. Equities analysts predict that Nuance Communications will post 0.82 EPS for the current year.

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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