Essex Investment Management Co. LLC boosted its position in Nuance Communications, Inc. (NASDAQ:NUAN) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,534 shares of the software maker’s stock after buying an additional 5,000 shares during the period. Essex Investment Management Co. LLC’s holdings in Nuance Communications were worth $1,942,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of NUAN. Daiwa Securities Group Inc. raised its stake in Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after buying an additional 1,100 shares during the period. Ledyard National Bank raised its position in Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after buying an additional 330 shares during the last quarter. IFP Advisors Inc raised its position in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the last quarter. World Asset Management Inc acquired a new position in Nuance Communications during the first quarter worth approximately $180,000. Finally, Raymond James Trust N.A. acquired a new position in Nuance Communications during the first quarter worth approximately $185,000. Hedge funds and other institutional investors own 84.01% of the company’s stock.
Nuance Communications, Inc. (NASDAQ:NUAN) traded down 1.28% during trading on Friday, hitting $16.15. The stock had a trading volume of 2,101,818 shares. The firm’s market cap is $4.65 billion. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93. The company’s 50 day moving average is $17.33 and its 200 day moving average is $17.44.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.09. The firm had revenue of $495.60 million during the quarter, compared to analysts’ expectations of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.76%. Nuance Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Equities research analysts forecast that Nuance Communications, Inc. will post $1.02 earnings per share for the current year.
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A number of research analysts have commented on the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $23.00 price target (down previously from $26.00) on shares of Nuance Communications in a research report on Thursday. Barclays PLC decreased their target price on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday. Raymond James Financial, Inc. decreased their target price on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Wednesday. Deutsche Bank AG cut their price target on Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity cut their price target on Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.11.
In related news, CEO Paul Ricci sold 139,267 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total value of $2,659,999.70. Following the sale, the chief executive officer now directly owns 2,090,036 shares of the company’s stock, valued at $39,919,687.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Adam Bruce Bowden sold 5,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $19.15, for a total transaction of $95,750.00. Following the sale, the vice president now directly owns 149,414 shares in the company, valued at $2,861,278.10. The disclosure for this sale can be found here. Insiders sold 186,267 shares of company stock worth $3,518,245 over the last ninety days. 1.67% of the stock is currently owned by corporate insiders.
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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