Peregrine Capital Management LLC reduced its holdings in Nuance Communications, Inc. (NASDAQ:NUAN) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,452,298 shares of the software maker’s stock after selling 106,551 shares during the quarter. Peregrine Capital Management LLC owned 0.50% of Nuance Communications worth $22,830,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in NUAN. Ameriprise Financial Inc. increased its stake in Nuance Communications by 15.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock worth $306,763,000 after acquiring an additional 2,383,671 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Nuance Communications in the 3rd quarter worth about $18,864,000. American Century Companies Inc. increased its stake in Nuance Communications by 4,461.1% in the 2nd quarter. American Century Companies Inc. now owns 1,058,903 shares of the software maker’s stock worth $18,436,000 after acquiring an additional 1,035,687 shares during the last quarter. NGAM Advisors L.P. increased its stake in Nuance Communications by 535.5% in the 2nd quarter. NGAM Advisors L.P. now owns 990,827 shares of the software maker’s stock worth $17,250,000 after acquiring an additional 834,925 shares during the last quarter. Finally, Hunt Lane Capital LP bought a new position in Nuance Communications in the 2nd quarter worth about $14,276,000. Institutional investors and hedge funds own 84.16% of the company’s stock.
In related news, insider Daniel David Tempesta sold 6,500 shares of Nuance Communications stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.99, for a total transaction of $103,935.00. Following the sale, the insider now directly owns 270,677 shares in the company, valued at approximately $4,328,125.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth M. Siegel sold 4,682 shares of Nuance Communications stock in a transaction on Friday, October 6th. The stock was sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Insiders sold a total of 17,682 shares of company stock valued at $280,117 in the last three months. 1.67% of the stock is currently owned by corporate insiders.
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A number of brokerages have weighed in on NUAN. Zacks Investment Research upgraded Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $23.00 target price (down from $26.00) on shares of Nuance Communications in a research note on Thursday, August 10th. Barclays PLC decreased their target price on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 9th. Raymond James Financial, Inc. decreased their target price on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG decreased their target price on Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.38.
Nuance Communications, Inc. (NASDAQ:NUAN) traded up 0.20% during trading on Tuesday, hitting $14.79. The stock had a trading volume of 269,845 shares. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93. The firm’s market cap is $4.27 billion. The company has a 50-day moving average of $15.72 and a 200 day moving average of $17.08.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.09). Nuance Communications had a positive return on equity of 14.73% and a negative net margin of 3.38%. The company had revenue of $495.60 million for the quarter, compared to analysts’ expectations of $495.57 million. During the same period in the previous year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Nuance Communications, Inc. will post $1.00 earnings per share for the current fiscal year.
Nuance Communications 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.
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