Zacks Investment Research Downgrades Nuance Communications Inc. (NUAN) to Strong Sell
Nuance Communications Inc. (NASDAQ:NUAN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
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 research reports about the company. Deutsche Bank AG reduced their price target on Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $26.00 price target on shares of Nuance Communications in a research report on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price target on Nuance Communications and gave the stock a “hold” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.82.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 14.50 on Wednesday. The company has a 50-day moving average price of $14.54 and a 200-day moving average price of $16.26. Nuance Communications has a 52-week low of $13.74 and a 52-week high of $21.83. The company’s market cap is $4.06 billion.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business earned $484.90 million during the quarter, compared to analysts’ expectations of $489.54 million. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, equities analysts predict that Nuance Communications will post $1.51 EPS for the current year.
In related 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 transaction of $96,180.00. Following the completion of the transaction, the vice president now directly owns 193,490 shares of the company’s stock, valued at $3,101,644.70. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.23% of the company’s stock.
Several large investors have recently bought and sold shares of NUAN. Macquarie Group Ltd. raised its stake in Nuance Communications by 2,113.5% in the second quarter. Macquarie Group Ltd. now owns 115,100 shares of the company’s stock valued at $1,799,000 after buying an additional 109,900 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Nuance Communications by 47.8% in the second quarter. Public Employees Retirement System of Ohio now owns 90,775 shares of the company’s stock valued at $1,419,000 after buying an additional 29,360 shares during the last quarter. Sterling Capital Management LLC raised its stake in Nuance Communications by 1.2% in the second quarter. Sterling Capital Management LLC now owns 105,060 shares of the company’s stock valued at $1,642,000 after buying an additional 1,230 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Nuance Communications by 56.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,553,800 shares of the company’s stock valued at $39,938,000 after buying an additional 920,783 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in Nuance Communications during the second quarter valued at about $773,000. 85.18% of the stock is owned by institutional investors and hedge funds.
Nuance Communications Company Profile
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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