Analysts Set Nuance Communications Inc. (NASDAQ:NUAN) Target Price at $23.00

Nuance Communications Inc. (NASDAQ:NUAN) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $23.75.

Several research firms recently issued reports on NUAN. TheStreet raised shares of Nuance Communications from a “c+” rating to a “b” rating in a report on Wednesday, November 20th. Morgan Stanley reaffirmed a “buy” rating and issued a $23.00 price target on shares of Nuance Communications in a report on Monday, February 3rd. Oppenheimer reaffirmed a “buy” rating and issued a $23.00 price target on shares of Nuance Communications in a report on Wednesday, December 11th. Wedbush reaffirmed an “outperform” rating on shares of Nuance Communications in a report on Friday, February 7th. Finally, ValuEngine cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

Shares of NASDAQ NUAN traded up $0.31 during trading on Friday, reaching $23.14. 4,389,863 shares of the stock were exchanged, compared to its average volume of 3,546,268. The business’s 50-day moving average price is $19.43 and its 200 day moving average price is $17.35. Nuance Communications has a twelve month low of $14.02 and a twelve month high of $23.20. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 9.13 and a beta of 0.94.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Wednesday, February 5th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $418.30 million for the quarter, compared to analysts’ expectations of $406.30 million. Nuance Communications had a net margin of 14.02% and a return on equity of 11.42%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, sell-side analysts expect that Nuance Communications will post 0.5 earnings per share for the current fiscal year.

In other Nuance Communications news, EVP Thomas L. Beaudoin sold 12,355 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $17.85, for a total transaction of $220,536.75. Following the sale, the executive vice president now directly owns 240,861 shares of the company’s stock, valued at $4,299,368.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Cassity sold 13,656 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $17.51, for a total transaction of $239,116.56. Following the sale, the executive vice president now directly owns 111,640 shares in the company, valued at $1,954,816.40. The disclosure for this sale can be found here. Insiders have sold 51,019 shares of company stock worth $903,569 over the last three months. 0.50% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of NUAN. UBS Asset Management Americas Inc. grew its position in shares of Nuance Communications by 14.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 420,308 shares of the software maker’s stock worth $7,494,000 after acquiring an additional 54,038 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Nuance Communications by 56.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 519,531 shares of the software maker’s stock valued at $9,263,000 after buying an additional 188,409 shares in the last quarter. Marshall Wace LLP grew its position in Nuance Communications by 0.7% in the 4th quarter. Marshall Wace LLP now owns 74,435 shares of the software maker’s stock valued at $1,328,000 after buying an additional 484 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in Nuance Communications by 6.3% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 6,150,885 shares of the software maker’s stock valued at $109,670,000 after buying an additional 363,518 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its position in Nuance Communications by 2,637.8% in the 4th quarter. Marshall Wace North America L.P. now owns 205,719 shares of the software maker’s stock valued at $3,668,000 after buying an additional 198,205 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.

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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