Nuance Communications (NASDAQ:NUAN) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Nuance Communications (NASDAQ:NUAN) from a buy rating to a hold rating in a report published on Friday, 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 also recently weighed in on the stock. ValuEngine downgraded shares of Nuance Communications from a buy rating to a hold rating in a research report on Friday, June 21st. BidaskClub downgraded shares of Nuance Communications from a sell rating to a strong sell rating in a research report on Monday, June 24th. Finally, Wedbush reiterated a buy rating and issued a $22.00 price target on shares of Nuance Communications in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $19.00.

Shares of NASDAQ:NUAN opened at $16.71 on Friday. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 4.01 and a beta of 0.91. The firm’s 50 day simple moving average is $16.31 and its 200 day simple moving average is $16.73. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.79. Nuance Communications has a fifty-two week low of $12.66 and a fifty-two week high of $18.16.

In related news, EVP Robert Weideman sold 6,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $16.53, for a total transaction of $99,180.00. Following the completion of the sale, the executive vice president now directly owns 432,959 shares of the company’s stock, valued at approximately $7,156,812.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $16.04, for a total value of $133,148.04. Following the sale, the executive vice president now directly owns 284,993 shares of the company’s stock, valued at $4,571,287.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,998 shares of company stock valued at $1,638,290. 0.68% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NUAN. Principal Financial Group Inc. grew its position in Nuance Communications by 17.1% during the fourth quarter. Principal Financial Group Inc. now owns 24,061 shares of the software maker’s stock valued at $318,000 after purchasing an additional 3,515 shares in the last quarter. Norges Bank purchased a new position in Nuance Communications during the fourth quarter valued at approximately $25,667,000. Geode Capital Management LLC grew its position in Nuance Communications by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 2,941,200 shares of the software maker’s stock valued at $38,911,000 after purchasing an additional 170,231 shares in the last quarter. American Century Companies Inc. purchased a new position in Nuance Communications during the fourth quarter valued at approximately $754,000. Finally, Strs Ohio grew its position in Nuance Communications by 4.1% during the first quarter. Strs Ohio now owns 23,881 shares of the software maker’s stock valued at $404,000 after purchasing an additional 939 shares in the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.

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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