Nuance Communications (NASDAQ:NUAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $18.00 target price on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.72% from the stock’s previous close.

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. “

Several other research firms have also recently commented on NUAN. Barclays decreased their target price on shares of Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 9th. Raymond James Financial decreased their target price on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 9th. Deutsche Bank decreased their target price on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Canaccord Genuity decreased their target price on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $23.00 target price (down previously from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $20.50.

Shares of Nuance Communications (NUAN) opened at $15.29 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.19 and a current ratio of 1.19. Nuance Communications has a 1 year low of $14.02 and a 1 year high of $19.93. The firm has a market cap of $4,440.00, a PE ratio of 19.75, a P/E/G ratio of 1.63 and a beta of 0.60.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The business had revenue of $474.70 million during the quarter, compared to the consensus estimate of $457.09 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. research analysts expect that Nuance Communications will post 0.81 earnings per share for the current year.

In other news, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $16.00, for a total value of $74,912.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $15.58, for a total transaction of $101,270.00. Following the completion of the sale, the insider now directly owns 258,188 shares of the company’s stock, valued at $4,022,569.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,864 shares of company stock valued at $243,603. 1.67% of the stock is owned by insiders.

Several large investors have recently modified their holdings of NUAN. Aperio Group LLC lifted its stake in shares of Nuance Communications by 18.3% in the 2nd quarter. Aperio Group LLC now owns 24,747 shares of the software maker’s stock worth $431,000 after acquiring an additional 3,827 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of Nuance Communications by 3.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 54,567 shares of the software maker’s stock worth $950,000 after acquiring an additional 1,944 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Nuance Communications by 8.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the software maker’s stock worth $806,000 after acquiring an additional 3,674 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Nuance Communications by 4.0% in the 2nd quarter. CIBC Asset Management Inc now owns 16,888 shares of the software maker’s stock worth $294,000 after acquiring an additional 655 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Nuance Communications by 23.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock worth $146,000 after acquiring an additional 1,600 shares during the period. 85.56% of the stock is owned by institutional investors.

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About Nuance Communications

Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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