Nuance Communications (NASDAQ:NUAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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. “

Several other brokerages have also issued reports on NUAN. Oppenheimer reaffirmed a “buy” rating and set a $23.00 price target on shares of Nuance Communications in a research note on Monday, December 18th. BidaskClub raised Nuance Communications from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. Stifel Nicolaus reissued a “hold” rating and issued a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research note on Wednesday, November 29th. TheStreet lowered Nuance Communications from a “c” rating to a “d+” rating in a research note on Tuesday, November 28th. Finally, Morgan Stanley raised Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 target price for the company in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $20.50.

Shares of Nuance Communications (NASDAQ:NUAN) opened at $16.42 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.19 and a current ratio of 1.19. Nuance Communications has a 52 week low of $14.02 and a 52 week high of $19.93. The stock has a market capitalization of $4,770.00, a PE ratio of -63.15, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Nuance Communications had a positive return on equity of 11.74% and a negative net margin of 3.76%. The firm had revenue of $508.80 million during the quarter, compared to analyst estimates of $508.55 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. sell-side analysts forecast that Nuance Communications will post 0.87 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUAN. Northern Trust Corp lifted its stake in shares of Nuance Communications by 10.4% in the 2nd quarter. Northern Trust Corp now owns 1,511,062 shares of the software maker’s stock valued at $26,307,000 after acquiring an additional 142,516 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Nuance Communications by 8.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 284,206 shares of the software maker’s stock valued at $4,948,000 after acquiring an additional 22,374 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nuance Communications by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,363,967 shares of the software maker’s stock valued at $41,160,000 after purchasing an additional 51,765 shares during the last quarter. Janus Henderson Group PLC raised its position in Nuance Communications by 28.8% during the 2nd quarter. Janus Henderson Group PLC now owns 51,779 shares of the software maker’s stock valued at $902,000 after purchasing an additional 11,576 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Nuance Communications by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock valued at $178,000 after purchasing an additional 809 shares during the last quarter. 85.46% of the stock is owned by institutional investors.

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Nuance Communications Company Profile

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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