Nuance Communications (NASDAQ:NUAN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Nuance Communications (NASDAQ:NUAN) from a buy rating to a hold rating in a report released on Friday morning, 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. “

A number of other analysts have also weighed in on NUAN. ValuEngine raised Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. BidaskClub lowered Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. Finally, Wedbush set a $11.00 price objective on Sangamo Therapeutics and gave the company a hold rating in a research note on Sunday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $18.80.

NASDAQ:NUAN opened at $16.36 on Friday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 4.10 and a beta of 0.91. Nuance Communications has a fifty-two week low of $12.66 and a fifty-two 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 company’s 50 day moving average is $16.47.

Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The company had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $449.90 million. Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, equities research analysts forecast that Nuance Communications will post 0.8 EPS for the current fiscal year.

In related news, CEO Mark D. Benjamin sold 45,396 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $17.40, for a total value of $789,890.40. Following the completion of the sale, the chief executive officer now owns 629,430 shares of the company’s stock, valued at $10,952,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark R. Laret sold 10,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $17.37, for a total value of $173,700.00. Following the completion of the sale, the director now directly owns 79,945 shares of the company’s stock, valued at approximately $1,388,644.65. The disclosure for this sale can be found here. Insiders sold 110,324 shares of company stock valued at $1,882,564 in the last ninety days. 0.68% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Bremer Bank National Association purchased a new stake in Nuance Communications in the first quarter worth $30,000. Northwestern Mutual Wealth Management Co. raised its holdings in Nuance Communications by 25.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock worth $53,000 after purchasing an additional 628 shares in the last quarter. Icon Wealth Partners LLC bought a new position in Nuance Communications in the first quarter worth $111,000. Rockefeller Capital Management L.P. bought a new position in Nuance Communications in the first quarter worth $143,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in Nuance Communications in the first quarter worth $175,000. 87.81% of the stock is owned by institutional investors.

About Nuance Communications

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.

Read More: How is a buy-side analyst different from a sell-side analyst?

Get a free copy of the Zacks research report on Nuance Communications (NUAN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

Receive News & Ratings for Nuance Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications and related companies with MarketBeat.com's FREE daily email newsletter.