Trellus Management Company LLC raised its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 9.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,000 shares of the software maker’s stock after buying an additional 3,100 shares during the period. Trellus Management Company LLC’s holdings in Nuance Communications were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NUAN. Comerica Bank raised its stake in shares of Nuance Communications by 0.7% in the first quarter. Comerica Bank now owns 12,581 shares of the software maker’s stock worth $224,000 after buying an additional 90 shares during the period. Ledyard National Bank raised its stake in shares of Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after buying an additional 330 shares during the period. IFP Advisors Inc raised its stake in shares of Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Nuance Communications by 1.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 30,900 shares of the software maker’s stock worth $535,000 after buying an additional 400 shares during the period. Finally, Argent Capital Management LLC raised its stake in shares of 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. Institutional investors own 86.17% of the company’s stock.

Nuance Communications, Inc. (NUAN) opened at 17.09 on Friday. The company’s market cap is $4.92 billion. The company has a 50-day moving average price of $17.85 and a 200 day moving average price of $17.35. 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, May 9th. The software maker reported $0.21 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted $0.38 EPS. Nuance Communications’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Nuance Communications, Inc. will post $1.11 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the company. BidaskClub lowered Nuance Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday. Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price (down 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. Stifel Nicolaus raised their target price on Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $25.00 target price on shares of Nuance Communications in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.89.

In other Nuance Communications news, CEO Paul Ricci sold 139,267 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $19.10, for a total value of $2,659,999.70. Following the completion of the transaction, the chief executive officer now owns 2,090,036 shares of the company’s stock, valued at approximately $39,919,687.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $17.42, for a total value of $130,650.00. Following the completion of the transaction, the insider now directly owns 283,810 shares of the company’s stock, valued at approximately $4,943,970.20. The disclosure for this sale can be found here. Insiders have sold a total of 198,361 shares of company stock valued at $3,756,673 in the last three months. 1.67% of the stock is owned by 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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Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

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