Nuance Communications (NASDAQ:NUAN) Stock Rating Upgraded by BidaskClub

Nuance Communications (NASDAQ:NUAN) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, BidAskClub reports.

A number of other brokerages also recently commented on NUAN. SVB Leerink increased their price objective on Nuance Communications from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Zacks Investment Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 13th. Craig Hallum boosted their target price on shares of Nuance Communications from $25.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley boosted their target price on shares of Nuance Communications from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Cfra downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $31.29.

Shares of NASDAQ:NUAN opened at $33.11 on Friday. Nuance Communications has a one year low of $13.51 and a one year high of $34.12. The stock has a fifty day moving average of $29.65 and a 200-day moving average of $23.31. The company has a market capitalization of $8.88 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 13.31 and a beta of 1.04. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.28 and a current ratio of 1.28.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Nuance Communications had a return on equity of 12.30% and a net margin of 10.02%. The company had revenue of $338.40 million during the quarter, compared to the consensus estimate of $317.40 million. As a group, research analysts forecast that Nuance Communications will post 0.47 EPS for the current fiscal year.

In other news, SVP Arthur G. Giterman sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $30.25, for a total value of $121,000.00. Following the transaction, the senior vice president now directly owns 92,023 shares of the company’s stock, valued at $2,783,695.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Arthur G. Giterman sold 2,472 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $32.15, for a total transaction of $79,474.80. Following the completion of the transaction, the chief accounting officer now directly owns 89,551 shares in the company, valued at $2,879,064.65. The disclosure for this sale can be found here. Insiders sold 9,305 shares of company stock worth $272,716 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its holdings in Nuance Communications by 1.5% during the second quarter. Advisor Group Holdings Inc. now owns 27,360 shares of the software maker’s stock valued at $693,000 after acquiring an additional 411 shares during the period. Comerica Bank boosted its holdings in Nuance Communications by 4.8% during the first quarter. Comerica Bank now owns 14,043 shares of the software maker’s stock valued at $269,000 after acquiring an additional 641 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Nuance Communications by 3.0% during the first quarter. PNC Financial Services Group Inc. now owns 22,638 shares of the software maker’s stock valued at $380,000 after acquiring an additional 669 shares during the period. First Trust Advisors LP boosted its holdings in Nuance Communications by 1.9% during the first quarter. First Trust Advisors LP now owns 40,358 shares of the software maker’s stock valued at $683,000 after acquiring an additional 766 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Nuance Communications by 42.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,692 shares of the software maker’s stock valued at $45,000 after acquiring an additional 797 shares during the period. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Nuance Communications Company Profile

Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.

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Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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