Nuance Communications (NASDAQ:NUAN) Shares Up 3.6%

Nuance Communications Inc. (NASDAQ:NUAN) shot up 3.6% during mid-day trading on Wednesday . The stock traded as high as $16.50 and last traded at $17.01, 219,438 shares changed hands during mid-day trading. A decline of 96% from the average session volume of 5,468,524 shares. The stock had previously closed at $16.42.

Several research firms recently issued reports on NUAN. Oppenheimer reissued a “buy” rating and issued a $23.00 target price on shares of Nuance Communications in a research note on Wednesday, December 11th. Morgan Stanley cut their target price on Nuance Communications from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wedbush reissued an “outperform” rating on shares of Nuance Communications in a research note on Friday, February 7th. Barclays reissued a “buy” rating and issued a $23.00 target price on shares of Nuance Communications in a research note on Wednesday, January 22nd. Finally, BidaskClub cut Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Nuance Communications currently has a consensus rating of “Buy” and a consensus price target of $22.20.

The company has a 50-day simple moving average of $20.27 and a two-hundred day simple moving average of $18.03. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $4.65 billion, a P/E ratio of 19.16, a PEG ratio of 6.48 and a beta of 0.69.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 12.71% and a net margin of 14.02%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. As a group, research analysts forecast that Nuance Communications Inc. will post 0.51 earnings per share for the current fiscal year.

In other Nuance Communications news, EVP Daniel David Tempesta sold 15,000 shares of Nuance Communications stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $23.04, for a total transaction of $345,600.00. Following the sale, the executive vice president now directly owns 593,801 shares of the company’s stock, valued at approximately $13,681,175.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Beaudoin sold 12,355 shares of Nuance Communications stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $17.85, for a total value of $220,536.75. Following the sale, the executive vice president now directly owns 240,861 shares in the company, valued at $4,299,368.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,562 shares of company stock worth $867,493. Insiders own 0.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NUAN. Norges Bank bought a new stake in Nuance Communications during the 4th quarter valued at approximately $44,556,000. Renaissance Technologies LLC bought a new stake in shares of Nuance Communications in the 4th quarter worth approximately $40,357,000. Select Equity Group L.P. bought a new stake in shares of Nuance Communications in the 3rd quarter worth approximately $27,825,000. Senvest Management LLC boosted its position in shares of Nuance Communications by 332.8% in the 4th quarter. Senvest Management LLC now owns 1,298,275 shares of the software maker’s stock worth $23,148,000 after purchasing an additional 998,275 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Nuance Communications by 30.6% in the 4th quarter. Handelsbanken Fonder AB now owns 3,322,057 shares of the software maker’s stock worth $59,232,000 after purchasing an additional 778,486 shares in the last quarter. 92.38% of the stock is currently owned by institutional investors and hedge funds.

Nuance Communications Company Profile (NASDAQ:NUAN)

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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