NUAN is based in Burlington, Mass. This company’s market cap is $5.5B. Its closing price yesterday was $17.94 vs. target price of $20.36. Today it has moved up a bit to $18.75. This is a voice technology play. The 52 week range for the stock is $14.12 to $18.81. Its current book value is 7.69 per share. There are also rumors that Apple is interested in buying it. If that happens all bets are off.
What is nuance? It is a leading software provider of speech recognition solutions for businesses and consumers. It also provides document management solutions. The primary focus at this time is on the speech recognition side of their business. This product converts speech into text to save time and costs while creating efficiencies across the enterprise.
With the growth in mobile applications, the use of speech technology is expected to grow exponentially.
There is some excitement and the current adoption and the future potential adoption rates of speech technology - from an efficiency and cost savings standpoint within the healthcare industry, and from a safety and responsiveness standpoint from the wireless side.
Nuance is the leading software that allows one to convert speech into text for texting or emailing.
To provide an example of application of their product, this week they released the Dragon Medical Mobile Recorder on the iTunes App Store, which expands their healthcare suite of speech solutions for smart phones and building upon the recent success of Dragon Medical Mobile Search. According to Business Wire, the recorder provides a new level of clinical documentation flexibility by enabling mobile point-of-care dictation that is connected to speech-enabled transcription platforms, eScription and Dictaphone Enterprise Speech System, and the fully-outsourced Nuance Transcription Services offering.