Nuance Communications, Inc. (NASDAQ:NUAN) Stake Reduced by Principal Financial Group Inc.
Principal Financial Group Inc. decreased its stake in Nuance Communications, Inc. (NASDAQ:NUAN) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,634 shares of the software maker’s stock after selling 818 shares during the period. Principal Financial Group Inc.’s holdings in Nuance Communications were worth $807,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. increased its position in Nuance Communications by 158.1% in the first quarter. ZWJ Investment Counsel Inc. now owns 40,000 shares of the software maker’s stock valued at $692,000 after buying an additional 24,500 shares during the period. BB&T Securities LLC raised its stake in Nuance Communications by 5.1% in the first quarter. BB&T Securities LLC now owns 20,136 shares of the software maker’s stock worth $348,000 after buying an additional 986 shares during the period. Alliancebernstein L.P. raised its stake in Nuance Communications by 1.7% in the first quarter. Alliancebernstein L.P. now owns 161,481 shares of the software maker’s stock worth $2,795,000 after buying an additional 2,682 shares during the period. Argent Capital Management LLC raised its stake in Nuance Communications by 2.6% in the first quarter. Argent Capital Management LLC now owns 18,890 shares of the software maker’s stock worth $327,000 after buying an additional 480 shares during the period. Finally, Vident Investment Advisory LLC raised its stake in Nuance Communications by 160.1% in the first quarter. Vident Investment Advisory LLC now owns 231,853 shares of the software maker’s stock worth $4,013,000 after buying an additional 142,700 shares during the period. Hedge funds and other institutional investors own 86.17% of the company’s stock.
Shares of Nuance Communications, Inc. (NUAN) opened at 17.36 on Thursday. Nuance Communications, Inc. has a 12 month low of $13.44 and a 12 month high of $19.93. The firm has a 50 day moving average price of $17.91 and a 200-day moving average price of $17.34. The firm’s market cap is $4.99 billion.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Tuesday, May 9th. The software maker reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. Nuance Communications had a positive return on equity of 15.76% and a negative net margin of 2.57%. The business had revenue of $511.10 million for the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Nuance Communications, Inc. will post $1.11 EPS for the current fiscal year.
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A number of research firms have recently issued reports on NUAN. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research note on Tuesday. Zacks Investment Research lowered Nuance Communications from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub downgraded Nuance Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Deutsche Bank AG reaffirmed a “buy” rating and set a $25.00 target price on shares of Nuance Communications in a report on Monday, June 12th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Nuance Communications in a report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.89.
In other news, VP Adam Bruce Bowden sold 5,930 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $18.15, for a total transaction of $107,629.50. Following the completion of the transaction, the vice president now directly owns 203,286 shares in the company, valued at approximately $3,689,640.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel David Tempesta sold 7,500 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $17.42, for a total transaction of $130,650.00. Following the transaction, the insider now owns 283,810 shares of the company’s stock, valued at $4,943,970.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,361 shares of company stock valued at $3,756,673. Company insiders own 1.67% of the company’s stock.
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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