First Quadrant L P CA Sells 641,167 Shares of Nuance Communications, Inc. (NASDAQ:NUAN)
First Quadrant L P CA lowered its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 67.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 308,965 shares of the software maker’s stock after selling 641,167 shares during the period. First Quadrant L P CA’s holdings in Nuance Communications were worth $5,379,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 bought a new stake in shares of Nuance Communications during the first quarter valued at $1,071,000. Finally, Comerica Bank bought a new stake in shares of Nuance Communications during the fourth quarter valued at $194,000. 86.11% of the stock is currently owned by institutional investors and hedge funds.
Nuance Communications, Inc. (NASDAQ:NUAN) opened at 17.20 on Friday. The company has a 50 day moving average of $18.11 and a 200 day moving average of $17.29. The company’s market capitalization is $4.95 billion. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.04. The business had revenue of $511.10 million for the quarter, compared to the consensus estimate of $506.83 million. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, equities research analysts forecast that Nuance Communications, Inc. will post $1.18 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on NUAN. Stifel Nicolaus upped their price target on Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, May 10th. BidaskClub cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a research report on Monday, June 12th. Zacks Investment Research upgraded Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Barclays PLC reiterated a “buy” rating and set a $22.00 price target on shares of Nuance Communications in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Nuance Communications currently has a consensus rating of “Buy” and a consensus target price of $21.25.
In related news, VP Adam Bruce Bowden sold 5,930 shares of Nuance Communications stock in a transaction that occurred on Tuesday, May 9th. The stock was 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 approximately $3,689,640.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert C. Schassler sold 2,500 shares of Nuance Communications stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $18.00, for a total value of $45,000.00. Following the sale, the insider now directly owns 209,536 shares in the company, valued at approximately $3,771,648. The disclosure for this sale can be found here. Insiders have sold a total of 200,861 shares of company stock worth $3,801,673 in the last three months. 1.67% of the stock is owned by corporate insiders.
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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