Nuance Communications, Inc. (NUAN) Releases Earnings Results, Meets Estimates

Nuance Communications, Inc. (NUAN) Releases  Earnings Results, Meets Estimates

Nuance Communications, Inc. (NASDAQ:NUAN) announced its earnings results on Tuesday. The company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The company had revenue of $487.70 million for the quarter, compared to analyst estimates of $490.37 million. Nuance Communications had a positive return on equity of 14.93% and a negative net margin of 0.63%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Nuance Communications updated its Q2 guidance to $0.36-0.40 EPS and its FY17 guidance to $1.53-1.63 EPS.

Shares of Nuance Communications (NASDAQ:NUAN) opened at 15.89 on Wednesday. The company’s 50 day moving average price is $15.54 and its 200 day moving average price is $15.03. Nuance Communications has a 12-month low of $13.44 and a 12-month high of $20.56. The firm’s market cap is $4.57 billion.

In related news, VP Adam Bruce Bowden sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $14.93, for a total value of $89,580.00. Following the transaction, the vice president now owns 228,478 shares in the company, valued at $3,411,176.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katherine A. Martin sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $14.90, for a total transaction of $149,000.00. Following the sale, the director now directly owns 117,880 shares in the company, valued at approximately $1,756,412. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,363 shares of company stock worth $645,810. 1.67% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Fisher Asset Management LLC increased its position in shares of Nuance Communications by 5.3% in the third quarter. Fisher Asset Management LLC now owns 881,786 shares of the company’s stock valued at $12,786,000 after buying an additional 44,400 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Nuance Communications by 117.9% in the third quarter. BlackRock Investment Management LLC now owns 615,443 shares of the company’s stock valued at $8,924,000 after buying an additional 333,057 shares in the last quarter. BlackRock Group LTD increased its position in shares of Nuance Communications by 48.2% in the third quarter. BlackRock Group LTD now owns 3,013,243 shares of the company’s stock valued at $43,693,000 after buying an additional 980,363 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Nuance Communications by 14.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,623,086 shares of the company’s stock valued at $23,535,000 after buying an additional 198,835 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Nuance Communications by 46.4% in the third quarter. Teachers Advisors LLC now owns 1,286,160 shares of the company’s stock valued at $18,649,000 after buying an additional 407,517 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on NUAN shares. Canaccord Genuity restated a “buy” rating and set a $20.00 price objective on shares of Nuance Communications in a research note on Friday, February 3rd. Zacks Investment Research lowered Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 19th. Raymond James Financial, Inc. upgraded Nuance Communications from an “outperform” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research note on Friday, November 18th. Barclays PLC upgraded Nuance Communications from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $19.00 in a research note on Friday, January 6th. Finally, Deutsche Bank AG restated a “buy” rating and set a $25.00 price objective on shares of Nuance Communications in a research note on Friday, November 18th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.50.

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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