Nuance Communications, Inc. (NUAN) Stock Rating Reaffirmed by Morgan Stanley
Nuance Communications, Inc. (NASDAQ:NUAN)‘s stock had its “buy” rating restated by equities researchers at Morgan Stanley in a research report issued to clients and investors on Wednesday. They presently have a $18.00 price objective on the software maker’s stock. Morgan Stanley’s target price points to a potential upside of 23.03% from the stock’s current price.
A number of other research analysts also recently issued reports on NUAN. Zacks Investment Research downgraded Nuance Communications from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub cut Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Canaccord Genuity cut their price objective on Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Deutsche Bank AG cut their price objective on Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. dropped their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.00.
Nuance Communications (NASDAQ:NUAN) opened at $14.63 on Wednesday. Nuance Communications has a twelve month low of $14.02 and a twelve month high of $19.93. The stock has a market capitalization of $4,233.75, a PE ratio of 14.97, a P/E/G ratio of 1.72 and a beta of 0.58. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.14.
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In other Nuance Communications news, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the completion of the transaction, the insider now owns 258,188 shares of the company’s stock, valued at approximately $4,022,569.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $14.40, for a total transaction of $67,420.80. The disclosure for this sale can be found here. Insiders sold a total of 22,364 shares of company stock valued at $347,538 in the last ninety days. 1.67% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Koch Industries Inc. bought a new position in shares of Nuance Communications in the 2nd quarter valued at about $523,000. Rhumbline Advisers lifted its holdings in shares of Nuance Communications by 5.3% in the 2nd quarter. Rhumbline Advisers now owns 268,222 shares of the software maker’s stock valued at $4,670,000 after acquiring an additional 13,453 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Nuance Communications by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 52,116 shares of the software maker’s stock valued at $907,000 after acquiring an additional 4,678 shares during the last quarter. Mcrae Capital Management Inc. lifted its holdings in shares of Nuance Communications by 2.1% in the 3rd quarter. Mcrae Capital Management Inc. now owns 330,250 shares of the software maker’s stock valued at $5,192,000 after acquiring an additional 6,700 shares during the last quarter. Finally, Aviva PLC lifted its holdings in shares of Nuance Communications by 20.2% in the 2nd quarter. Aviva PLC now owns 175,793 shares of the software maker’s stock valued at $3,062,000 after acquiring an additional 29,540 shares during the last quarter. 86.41% of the stock is owned by institutional investors and hedge funds.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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