Pictet Asset Management Ltd. Buys 1,224,085 Shares of Nuance Communications, Inc. (NUAN)

Pictet Asset Management Ltd. lifted its stake in Nuance Communications, Inc. (NASDAQ:NUAN) by 29.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,390,900 shares of the software maker’s stock after acquiring an additional 1,224,085 shares during the period. Pictet Asset Management Ltd. owned 1.87% of Nuance Communications worth $84,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of Nuance Communications by 0.7% in the 1st quarter. Comerica Bank now owns 12,581 shares of the software maker’s stock worth $224,000 after acquiring an additional 90 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Nuance Communications by 1.3% in the 2nd quarter. Moors & Cabot Inc. now owns 11,215 shares of the software maker’s stock worth $193,000 after acquiring an additional 140 shares in the last quarter. Ledyard National Bank raised its position in shares of Nuance Communications by 4.8% in the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after acquiring an additional 330 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Nuance Communications by 1.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 30,900 shares of the software maker’s stock worth $535,000 after acquiring an additional 400 shares in the last quarter. Finally, Sicart Associates LLC raised its position in shares of Nuance Communications by 0.5% in the 2nd quarter. Sicart Associates LLC now owns 86,925 shares of the software maker’s stock worth $1,513,000 after acquiring an additional 400 shares in the last quarter. 84.16% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on NUAN. Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $23.00 price target (down from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Barclays PLC reduced their price target on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 9th. Raymond James Financial, Inc. reduced their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG reduced their price target on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $20.38.

In other Nuance Communications news, insider Daniel David Tempesta sold 6,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.58, for a total value of $101,270.00. Following the sale, the insider now directly owns 258,188 shares in the company, valued at $4,022,569.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kenneth M. Siegel sold 4,682 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were 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. Over the last 90 days, insiders sold 17,682 shares of company stock worth $280,117. 1.67% of the stock is owned by insiders.

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Shares of Nuance Communications, Inc. (NUAN) traded up 0.14% on Tuesday, reaching $14.78. The company had a trading volume of 275,385 shares. The firm’s market capitalization is $4.27 billion. The firm’s 50 day moving average is $15.72 and its 200 day moving average is $17.08. Nuance Communications, Inc. has a 12 month low of $13.44 and a 12 month high of $19.93.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results 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 negative net margin of 3.38% and a positive return on equity of 14.73%. The business had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Nuance Communications, Inc. will post $1.00 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

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