Cwm LLC lifted its stake in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 93.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 202,350 shares of the software maker’s stock after purchasing an additional 97,858 shares during the period. Cwm LLC’s holdings in Nuance Communications were worth $3,308,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Atria Investments LLC boosted its holdings in Nuance Communications by 103.1% in the fourth quarter. Atria Investments LLC now owns 28,153 shares of the software maker’s stock valued at $460,000 after purchasing an additional 14,290 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new position in Nuance Communications in the fourth quarter valued at approximately $1,221,000. Aurora Investment Counsel acquired a new position in Nuance Communications in the fourth quarter valued at approximately $1,712,000. Jana Partners LLC acquired a new position in Nuance Communications in the third quarter valued at approximately $3,622,000. Finally, IFM Investors Pty Ltd boosted its holdings in Nuance Communications by 37.7% in the third quarter. IFM Investors Pty Ltd now owns 21,626 shares of the software maker’s stock valued at $340,000 after purchasing an additional 5,922 shares in the last quarter. 85.01% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on NUAN shares. Zacks Investment Research raised Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, December 5th. Oppenheimer reaffirmed a “buy” rating and issued a $23.00 price target on shares of Nuance Communications in a report on Monday, December 18th. BidaskClub raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Friday, December 15th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $18.00 price target (down from $19.00) on shares of Nuance Communications in a report on Wednesday, November 29th. Finally, TheStreet downgraded Nuance Communications from a “c” rating to a “d+” rating in a report on Tuesday, November 28th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.50.
Shares of Nuance Communications Inc. (NASDAQ:NUAN) opened at $16.97 on Thursday. The firm has a market capitalization of $4,930.00, a P/E ratio of -32.63, a PEG ratio of 1.76 and a beta of 0.60. Nuance Communications Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $19.93. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.16.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $474.70 million during the quarter, compared to the consensus estimate of $457.09 million. Nuance Communications had a positive return on equity of 12.15% and a negative net margin of 7.75%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. sell-side analysts predict that Nuance Communications Inc. will post 0.81 EPS for the current fiscal year.
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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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