Seven Eight Capital LP boosted its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 188.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,900 shares of the software maker’s stock after purchasing an additional 37,200 shares during the quarter. Seven Eight Capital LP’s holdings in Nuance Communications were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in Nuance Communications by 40.7% during the 2nd quarter. Bank of Montreal Can now owns 962,622 shares of the software maker’s stock worth $16,760,000 after purchasing an additional 278,416 shares during the last quarter. Rhumbline Advisers raised its holdings in Nuance Communications by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 268,222 shares of the software maker’s stock worth $4,670,000 after purchasing an additional 13,453 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Nuance Communications by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 52,116 shares of the software maker’s stock worth $907,000 after purchasing an additional 4,678 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Nuance Communications by 414.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 34,767 shares of the software maker’s stock worth $602,000 after purchasing an additional 28,003 shares during the last quarter. Finally, Creative Planning raised its holdings in Nuance Communications by 2.1% during the 2nd quarter. Creative Planning now owns 26,684 shares of the software maker’s stock worth $465,000 after purchasing an additional 544 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.

Several analysts have weighed in on NUAN shares. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price objective on shares of Nuance Communications in a report on Monday, June 12th. Canaccord Genuity dropped their price objective on Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Morgan Stanley reissued an “equal weight” rating and set a $18.00 price objective (down from $19.00) on shares of Nuance Communications in a report on Tuesday, July 25th. Zacks Investment Research raised Nuance Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $23.00 price objective (down from $26.00) on shares of Nuance Communications in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $20.11.

In other news, insider Daniel David Tempesta sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $17.36, for a total transaction of $130,200.00. Following the completion of the transaction, the insider now directly owns 270,810 shares in the company, valued at $4,701,261.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 21,500 shares of company stock valued at $364,785 over the last 90 days. 1.67% of the stock is owned by corporate insiders.

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Nuance Communications, Inc. (NASDAQ NUAN) opened at 16.29 on Friday. The stock’s 50 day moving average price is $16.25 and its 200 day moving average price is $17.35. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93. The firm’s market capitalization is $4.70 billion.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The firm had revenue of $495.60 million during the quarter, compared to the consensus estimate of $495.57 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. Nuance Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Nuance Communications, Inc. will post $1.00 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

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