Nuance Communications (NASDAQ:NUAN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Nuance Communications (NASDAQ:NUAN) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

NUAN has been the topic of a number of other reports. BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Monday, June 24th. Wedbush set a $11.00 target price on shares of Sangamo Therapeutics and gave the stock a hold rating in a report on Sunday, June 23rd. Finally, ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $19.20.

Nuance Communications stock opened at $16.43 on Wednesday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 4.12 and a beta of 0.91. Nuance Communications has a 52-week low of $12.66 and a 52-week high of $18.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. The business’s 50 day simple moving average is $16.67.

Nuance Communications (NASDAQ:NUAN) last released its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.13). The business had revenue of $451.00 million for the quarter, compared to analyst estimates of $449.90 million. Nuance Communications had a return on equity of 14.00% and a net margin of 2.44%. Nuance Communications’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. Analysts predict that Nuance Communications will post 0.8 EPS for the current year.

In other Nuance Communications news, insider Robert Weideman sold 6,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $16.04, for a total value of $96,240.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $16.04, for a total transaction of $133,148.04. Following the completion of the sale, the executive vice president now directly owns 284,993 shares in the company, valued at $4,571,287.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,324 shares of company stock worth $1,882,564. Insiders own 0.68% of the company’s stock.

Several large investors have recently made changes to their positions in NUAN. Bremer Bank National Association purchased a new stake in shares of Nuance Communications in the 1st quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Nuance Communications by 25.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock valued at $53,000 after buying an additional 628 shares during the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Nuance Communications in the 1st quarter valued at $111,000. Rockefeller Capital Management L.P. purchased a new position in shares of Nuance Communications in the 1st quarter valued at $143,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in shares of Nuance Communications in the 1st quarter valued at $175,000. 87.83% of the stock is currently owned by institutional investors.

Nuance Communications Company Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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