Nuance Communications Inc. (NUAN) Sees Strong Trading Volume
Nuance Communications Inc. (NASDAQ:NUAN) saw an uptick in trading volume on Wednesday . 2,631,107 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 2,676,337 shares.The stock last traded at $14.56 and had previously closed at $14.86.
A number of brokerages recently weighed in on NUAN. Leerink Swann dropped their price target on Nuance Communications from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 11th. Canaccord Genuity dropped their price target on Nuance Communications from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. Needham & Company LLC reissued a “hold” rating on shares of Nuance Communications in a research note on Thursday, May 12th. Deutsche Bank AG dropped their price target 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. Finally, Barclays PLC set a $19.00 price target on Nuance Communications and gave the stock a “hold” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.82.
The stock’s 50 day moving average is $15.68 and its 200 day moving average is $17.30. The stock’s market capitalization is $4.08 billion.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results 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 firm had revenue of $484.90 million for the quarter, compared to analyst estimates of $489.54 million. The company’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.32 EPS. Equities research analysts anticipate that Nuance Communications Inc. will post $1.51 earnings per share for the current year.
In related news, Director Katherine A. Martin sold 10,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Adam Bruce Bowden sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $16.78, for a total value of $134,240.00. Following the completion of the sale, the vice president now owns 211,490 shares of the company’s stock, valued at approximately $3,548,802.20. The disclosure for this sale can be found here.
A number of large investors recently added to or reduced their stakes in NUAN. Trexquant Investment LP bought a new stake in Nuance Communications during the fourth quarter worth approximately $1,505,000. KBC Group NV increased its stake in Nuance Communications by 103.1% in the fourth quarter. KBC Group NV now owns 129,379 shares of the company’s stock worth $2,573,000 after buying an additional 65,666 shares in the last quarter. Airain ltd increased its stake in Nuance Communications by 470.9% in the fourth quarter. Airain ltd now owns 175,396 shares of the company’s stock worth $3,489,000 after buying an additional 144,671 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in Nuance Communications by 0.8% in the fourth quarter. King Luther Capital Management Corp now owns 304,009 shares of the company’s stock worth $6,047,000 after buying an additional 2,500 shares in the last quarter.
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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