Nuance Communications, Inc. (NASDAQ:NUAN) Position Decreased by Peregrine Capital Management LLC
Peregrine Capital Management LLC cut its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 33.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,558,849 shares of the software maker’s stock after selling 787,686 shares during the period. Peregrine Capital Management LLC’s holdings in Nuance Communications were worth $27,140,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in Nuance Communications by 414.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,767 shares of the software maker’s stock valued at $602,000 after buying an additional 28,003 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in Nuance Communications by 19.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 119,420 shares of the software maker’s stock valued at $2,068,000 after buying an additional 19,308 shares in the last quarter. Reliance Trust Co. of Delaware raised its position in Nuance Communications by 9.3% in the first quarter. Reliance Trust Co. of Delaware now owns 57,294 shares of the software maker’s stock valued at $991,000 after buying an additional 4,887 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in Nuance Communications during the first quarter valued at about $1,071,000. Finally, Comerica Bank acquired a new position in Nuance Communications during the fourth quarter valued at about $194,000. 86.11% of the stock is owned by institutional investors.
Shares of Nuance Communications, Inc. (NUAN) traded down 2.85% during trading on Thursday, reaching $17.05. The company’s stock had a trading volume of 1,142,657 shares. The company’s market capitalization is $4.90 billion. Nuance Communications, Inc. has a one year low of $13.44 and a one year high of $19.93. The firm’s 50-day moving average price is $18.16 and its 200-day moving average price is $17.30.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $511.10 million for the quarter, compared to analysts’ expectations of $506.83 million. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. Nuance Communications’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts anticipate that Nuance Communications, Inc. will post $1.18 earnings per share for the current year.
NUAN has been the subject of several recent analyst reports. Barclays PLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Nuance Communications in a report on Friday, May 12th. Zacks Investment Research lowered Nuance Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 17th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 target price on shares of Nuance Communications in a report on Monday, June 12th. BidaskClub lowered Nuance Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Stifel Nicolaus upped their target price on Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Nuance Communications currently has a consensus rating of “Buy” and an average price target of $21.25.
In other Nuance Communications news, insider Robert C. Schassler sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $18.00, for a total transaction of $45,000.00. Following the completion of the sale, the insider now directly owns 209,536 shares in the company, valued at approximately $3,771,648. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Adam Bruce Bowden sold 5,930 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $18.15, for a total transaction of $107,629.50. Following the sale, the vice president now owns 203,286 shares of the company’s stock, valued at $3,689,640.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,861 shares of company stock valued at $3,801,673. Company insiders own 1.67% of the company’s stock.
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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