Nuance Communications Inc. (NUAN) Sees Unusually-High Trading Volume
Shares of Nuance Communications Inc. (NASDAQ:NUAN) saw an uptick in trading volume on Friday . 2,865,748 shares changed hands 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 research firms have recently issued reports on NUAN. Canaccord Genuity cut their price objective on shares of Nuance Communications from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 11th. Zacks Investment Research cut shares of Nuance Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th. Deutsche Bank AG cut their price objective on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Nuance Communications in a research report on Thursday, May 12th. Finally, Leerink Swann cut their price objective on shares of Nuance Communications from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Nuance Communications has a consensus rating of “Buy” and an average price target of $21.82.
The company’s 50 day moving average is $15.31 and its 200-day moving average is $17.08. The stock’s market capitalization is $4.17 billion.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm earned $484.90 million during the quarter, compared to analysts’ expectations of $489.54 million. During the same quarter in the previous year, the firm posted $0.32 EPS. Nuance Communications’s revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that Nuance Communications Inc. will post $1.51 earnings per share for the current year.
In other news, Director Katherine A. Martin sold 10,000 shares of Nuance Communications stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $17.23, for a total transaction of $172,300.00. Following the sale, the director now owns 130,600 shares of the company’s stock, valued at approximately $2,250,238. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Adam Bruce Bowden sold 6,000 shares of Nuance Communications stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $16.03, for a total transaction 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 disclosure for this sale can be found here.
A hedge fund recently raised its stake in Nuance Communications stock. KBC Group NV increased its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 103.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 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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