Nuance Communications (NASDAQ:NUAN) Research Coverage Started at SVB Leerink

SVB Leerink started coverage on shares of Nuance Communications (NASDAQ:NUAN) in a research report report published on Monday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $31.00 target price on the software maker’s stock. SVB Leerink also issued estimates for Nuance Communications’ Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.12 EPS, FY2020 earnings at $0.46 EPS, FY2021 earnings at $0.50 EPS, FY2022 earnings at $0.57 EPS and FY2023 earnings at $0.69 EPS.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Nuance Communications from a buy rating to a hold rating in a report on Thursday, May 14th. Morgan Stanley lowered their price target on shares of Nuance Communications from $24.00 to $20.00 and set an overweight rating on the stock in a report on Wednesday, March 25th. Guggenheim began coverage on shares of Nuance Communications in a report on Tuesday, April 14th. They issued a neutral rating on the stock. Finally, BidaskClub raised shares of Nuance Communications from a hold rating to a buy rating in a report on Tuesday, June 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $24.33.

Nuance Communications stock opened at $25.59 on Monday. Nuance Communications has a 52 week low of $13.51 and a 52 week high of $26.08. The company’s 50 day moving average price is $22.84 and its two-hundred day moving average price is $20.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The stock has a market cap of $7.12 billion, a P/E ratio of 48.28, a P/E/G ratio of 11.33 and a beta of 1.04.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $369.55 million for the quarter, compared to analysts’ expectations of $351.56 million. Nuance Communications had a net margin of 9.06% and a return on equity of 12.80%. Nuance Communications’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, equities analysts anticipate that Nuance Communications will post 0.45 EPS for the current year.

In other news, SVP Arthur G. Giterman sold 5,557 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $21.00, for a total transaction of $116,697.00. Following the completion of the transaction, the senior vice president now directly owns 99,904 shares in the company, valued at approximately $2,097,984. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Weideman sold 62,698 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $19.03, for a total transaction of $1,193,142.94. Following the transaction, the executive vice president now owns 512,165 shares of the company’s stock, valued at $9,746,499.95. The disclosure for this sale can be found here. Insiders sold a total of 156,734 shares of company stock valued at $3,042,563 over the last quarter. 0.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parnassus Investments CA purchased a new position in shares of Nuance Communications during the 1st quarter valued at $115,576,000. Alliancebernstein L.P. grew its position in shares of Nuance Communications by 10.0% during the 4th quarter. Alliancebernstein L.P. now owns 6,397,479 shares of the software maker’s stock valued at $114,067,000 after purchasing an additional 581,960 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of Nuance Communications by 6.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 6,150,885 shares of the software maker’s stock valued at $109,670,000 after purchasing an additional 363,518 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nuance Communications by 3.1% during the 1st quarter. Geode Capital Management LLC now owns 4,830,044 shares of the software maker’s stock valued at $81,047,000 after purchasing an additional 143,764 shares in the last quarter. Finally, Prudential PLC lifted its holdings in shares of Nuance Communications by 91.3% during the 1st quarter. Prudential PLC now owns 3,569,868 shares of the software maker’s stock worth $59,902,000 after acquiring an additional 1,704,004 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Nuance Communications Company Profile

Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.

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Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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