Nuance Communications Inc. (NASDAQ:NUAN) shares rose 9.8% on Monday . The stock traded as high as $18.74 and last traded at $18.68. Approximately 8,872,812 shares changed hands during trading, an increase of 187% from the average daily volume of 3,095,907 shares. The stock had previously closed at $17.01.

NUAN has been the topic of several recent analyst reports. Morgan Stanley raised Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a research report on Thursday, November 2nd. Zacks Investment Research raised Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, December 5th. Oppenheimer reissued a “buy” rating and set a $23.00 price target on shares of Nuance Communications in a research report on Monday, December 18th. TheStreet lowered Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $18.00 price target (down from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.50.

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $5,420.00, a PE ratio of -35.92, a price-to-earnings-growth ratio of 1.75 and a beta of 0.60.

Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. Nuance Communications had a positive return on equity of 12.15% and a negative net margin of 7.75%. The company had revenue of $474.70 million for the quarter, compared to analyst estimates of $457.09 million. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue was down 7.4% compared to the same quarter last year. analysts expect that Nuance Communications Inc. will post 0.81 EPS for the current fiscal year.

In other Nuance Communications news, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $14.40, for a total value of $67,420.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.67% of the company’s stock.

A number of hedge funds have recently modified their holdings of NUAN. Comerica Bank increased its position in Nuance Communications by 10.2% in the 2nd quarter. Comerica Bank now owns 13,864 shares of the software maker’s stock worth $242,000 after purchasing an additional 1,283 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Nuance Communications by 59.5% during the 2nd quarter. Amalgamated Bank now owns 51,811 shares of the software maker’s stock worth $902,000 after acquiring an additional 19,327 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Nuance Communications during the 2nd quarter worth about $3,250,000. GSA Capital Partners LLP bought a new stake in shares of Nuance Communications during the 2nd quarter worth about $1,156,000. Finally, D.A. Davidson & CO. boosted its stake in shares of Nuance Communications by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 50,279 shares of the software maker’s stock worth $875,000 after acquiring an additional 474 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

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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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