Nuance Communications Inc. (NUAN) Trading 3.2% Higher
Nuance Communications Inc. (NASDAQ:NUAN) shares rose 3.2% during trading on Wednesday . The company traded as high as $14.42 and last traded at $14.35, with a volume of 1,766,619 shares trading hands. The stock had previously closed at $13.90.
NUAN has been the topic of a number of research analyst reports. Deutsche Bank AG reduced their target price on Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Barclays PLC set a $19.00 target price on Nuance Communications and gave the company a “hold” rating in a research note on Tuesday, August 9th. Zacks Investment Research cut Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $26.00 target price on shares of Nuance Communications in a research note on Thursday, August 11th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Nuance Communications presently has an average rating of “Buy” and a consensus target price of $21.82.
The stock’s market capitalization is $4.08 billion. The firm has a 50 day moving average price of $14.79 and a 200-day moving average price of $16.65.
Nuance Communications (NASDAQ:NUAN) last released its earnings results on Monday, August 8th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The company had revenue of $484.90 million for the quarter, compared to analysts’ expectations of $489.54 million. During the same quarter in the previous year, the company earned $0.32 EPS. Nuance Communications’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts predict that Nuance Communications Inc. will post $1.51 EPS for the current year.
In other Nuance Communications news, VP Adam Bruce Bowden sold 6,000 shares of Nuance Communications stock in a transaction on Monday, August 1st. The shares were 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 approximately $3,101,644.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.23% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of Nuance Communications by 2.1% in the first quarter. Renaissance Technologies LLC now owns 3,182,655 shares of the company’s stock worth $59,484,000 after buying an additional 65,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nuance Communications by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,664,966 shares of the company’s stock worth $31,101,000 after buying an additional 53,731 shares in the last quarter. State Street Corp increased its stake in shares of Nuance Communications by 5.2% in the first quarter. State Street Corp now owns 4,873,300 shares of the company’s stock worth $91,091,000 after buying an additional 239,840 shares in the last quarter. Bayesian Capital Management LP increased its stake in shares of Nuance Communications by 4.6% in the first quarter. Bayesian Capital Management LP now owns 24,968 shares of the company’s stock worth $467,000 after buying an additional 1,100 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of Nuance Communications by 630.2% in the first quarter. Squarepoint Ops LLC now owns 105,883 shares of the company’s stock worth $1,979,000 after buying an additional 91,383 shares in the last quarter. Institutional investors own 85.18% of the company’s stock.
About Nuance Communications
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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