Morgan Stanley upgraded shares of Nuance Communications, Inc. (NASDAQ:NUAN) from an equal weight rating to an overweight rating in a research report report published on Thursday, November 2nd, MarketBeat Ratings reports. Morgan Stanley currently has $18.00 target price on the software maker’s stock.
A number of other equities research analysts also recently weighed in on NUAN. Zacks Investment Research raised shares of Nuance Communications from a sell rating to a hold rating in a research note on Thursday, October 12th. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $23.00 price target (down from $26.00) on shares of Nuance Communications in a research note on Thursday, August 10th. Barclays PLC cut their target price on shares of Nuance Communications from $22.00 to $21.00 and set an overweight rating on the stock in a report on Wednesday, August 9th. Raymond James Financial, Inc. cut their target price on shares of Nuance Communications from $24.00 to $22.00 and set a strong-buy rating on the stock in a report on Wednesday, August 9th. Finally, Deutsche Bank AG cut their target price on shares of Nuance Communications from $25.00 to $23.00 and set a buy rating on the stock in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Nuance Communications currently has a consensus rating of Buy and a consensus price target of $20.38.
Nuance Communications (NUAN) opened at $14.03 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.14. Nuance Communications has a 1 year low of $14.26 and a 1 year high of $19.93. The firm has a market cap of $4,259.73, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58.
COPYRIGHT VIOLATION WARNING: This story was first published by BBNS and is the sole property of of BBNS. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://baseballnewssource.com/markets/morgan-stanley-upgrades-nuance-communications-inc-nuan-to-overweight/1751018.html.
In other Nuance Communications news, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $15.99, for a total value of $103,935.00. Following the completion of the transaction, the insider now directly owns 270,677 shares in the company, valued at approximately $4,328,125.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $16.00, for a total value of $74,912.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,682 shares of company stock valued at $280,117 in the last ninety days. Insiders own 1.67% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Koch Industries Inc. purchased a new stake in shares of Nuance Communications during the 2nd quarter worth approximately $523,000. Rhumbline Advisers raised its holdings in shares of Nuance Communications by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 268,222 shares of the software maker’s stock worth $4,670,000 after acquiring an additional 13,453 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Nuance Communications by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 52,116 shares of the software maker’s stock valued at $907,000 after buying an additional 4,678 shares during the period. Bank of Montreal Can raised its holdings in Nuance Communications by 40.7% during the 2nd quarter. Bank of Montreal Can now owns 962,622 shares of the software maker’s stock valued at $16,760,000 after buying an additional 278,416 shares during the period. Finally, Mcrae Capital Management Inc. raised its holdings in Nuance Communications by 2.1% during the 3rd quarter. Mcrae Capital Management Inc. now owns 330,250 shares of the software maker’s stock valued at $5,192,000 after buying an additional 6,700 shares during the period. 86.63% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related companies with our FREE daily email newsletter.