Nuance Communications Inc. (NUAN) Sees Strong Trading Volume
Shares of Nuance Communications Inc. (NASDAQ:NUAN) saw unusually-strong trading volume on Friday . Approximately 2,865,748 shares were traded during trading, a decline of 3% from the previous session’s volume of 2,955,598 shares.The stock last traded at $14.86 and had previously closed at $14.60.
A number of analysts have recently issued reports on NUAN shares. Barclays PLC set a $19.00 price target on Nuance Communications and gave the company a “hold” rating in a research report on Tuesday, August 9th. Leerink Swann dropped their target price on Nuance Communications from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, May 11th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $26.00 target price on shares of Nuance Communications in a research report on Thursday, August 11th. Needham & Company LLC restated a “hold” rating on shares of Nuance Communications in a research report on Thursday, May 12th. Finally, Zacks Investment Research upgraded Nuance Communications from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Nuance Communications presently has a consensus rating of “Buy” and a consensus price target of $21.82.
The company’s market cap is $4.17 billion. The company has a 50 day moving average of $15.31 and a 200-day moving average of $17.08.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The company earned $484.90 million during the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, analysts anticipate that Nuance Communications Inc. will post $1.51 EPS for the current fiscal year.
In other news, VP Adam Bruce Bowden sold 6,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $16.03, for a total value of $96,180.00. Following the sale, the vice president now directly owns 193,490 shares in the company, valued at $3,101,644.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Katherine A. Martin sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $17.23, for a total value of $172,300.00. Following the completion of the sale, the director now owns 130,600 shares in the company, valued at $2,250,238. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Nuance Communications stock. KBC Group NV raised its stake in Nuance Communications Inc. (NASDAQ:NUAN) by 103.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,379 shares of the company’s stock after buying an additional 65,666 shares during the period. KBC Group NV’s holdings in Nuance Communications were worth $2,573,000 at the end of the most recent reporting period.
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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