Nuance Communications (NASDAQ:NUAN) Lowered to “Equal Weight” at Morgan Stanley

Nuance Communications (NASDAQ:NUAN) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, Price Targets.com reports. They presently have a $56.00 price target on the software maker’s stock. Morgan Stanley’s price target suggests a potential upside of 6.77% from the company’s current price.

Several other equities analysts have also weighed in on the company. Craig Hallum restated a “hold” rating and issued a $56.00 price target (down previously from $58.00) on shares of Nuance Communications in a research note on Monday, April 19th. Barclays lifted their price target on Nuance Communications from $47.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, January 21st. Wedbush restated a “neutral” rating on shares of Nuance Communications in a research note on Monday, April 19th. SVB Leerink lifted their price target on Nuance Communications from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, February 9th. Finally, Zacks Investment Research upgraded Nuance Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, April 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $50.14.

NASDAQ NUAN opened at $52.45 on Tuesday. The stock has a 50-day simple moving average of $49.44 and a two-hundred day simple moving average of $44.84. The firm has a market capitalization of $14.95 billion, a P/E ratio of 524.50, a PEG ratio of 24.28 and a beta of 1.22. Nuance Communications has a fifty-two week low of $18.84 and a fifty-two week high of $53.93. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.75.

Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Sunday, May 9th. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The business had revenue of $347.00 million during the quarter, compared to analyst estimates of $346.45 million. Nuance Communications had a return on equity of 11.24% and a net margin of 1.89%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, analysts forecast that Nuance Communications will post 0.4 earnings per share for the current year.

In other Nuance Communications news, CFO Daniel David Tempesta sold 120,342 shares of the business’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $52.95, for a total transaction of $6,372,108.90. Following the completion of the sale, the chief financial officer now directly owns 382,687 shares in the company, valued at approximately $20,263,276.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.48% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in shares of Nuance Communications during the 4th quarter worth approximately $1,667,000. FDx Advisors Inc. acquired a new position in Nuance Communications in the fourth quarter valued at approximately $202,000. Parnassus Investments CA lifted its holdings in Nuance Communications by 1.9% in the fourth quarter. Parnassus Investments CA now owns 7,023,083 shares of the software maker’s stock valued at $309,648,000 after acquiring an additional 133,604 shares during the last quarter. Delta Investment Management LLC acquired a new position in Nuance Communications in the fourth quarter valued at approximately $2,249,000. Finally, Twin Tree Management LP lifted its holdings in Nuance Communications by 729.0% in the fourth quarter. Twin Tree Management LP now owns 372,594 shares of the software maker’s stock valued at $16,428,000 after acquiring an additional 327,649 shares during the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

Nuance Communications Company Profile

Nuance Communications, Inc provides conversational and cognitive artificial intelligence (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.

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Analyst Recommendations for Nuance Communications (NASDAQ:NUAN)

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