Renaissance Technologies LLC trimmed its holdings in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 28.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 998,255 shares of the software maker’s stock after selling 401,000 shares during the period. Renaissance Technologies LLC owned 0.35% of Nuance Communications worth $17,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Clearbridge Investments LLC boosted its position in Nuance Communications by 1.7% during the 1st quarter. Clearbridge Investments LLC now owns 25,590,805 shares of the software maker’s stock worth $442,977,000 after purchasing an additional 430,377 shares during the period. Vanguard Group Inc. boosted its position in Nuance Communications by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,288,701 shares of the software maker’s stock worth $405,455,000 after purchasing an additional 335,427 shares during the period. Ameriprise Financial Inc. boosted its position in Nuance Communications by 15.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock worth $306,763,000 after purchasing an additional 2,383,671 shares during the period. Pictet Asset Management Ltd. boosted its position in Nuance Communications by 5.7% during the 2nd quarter. Pictet Asset Management Ltd. now owns 4,166,815 shares of the software maker’s stock worth $77,128,000 after purchasing an additional 223,993 shares during the period. Finally, Sirios Capital Management L P boosted its position in Nuance Communications by 13.7% during the 2nd quarter. Sirios Capital Management L P now owns 3,832,085 shares of the software maker’s stock worth $66,717,000 after purchasing an additional 462,608 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on NUAN shares. Deutsche Bank AG decreased their price target on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Canaccord Genuity decreased their price target on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Morgan Stanley reissued an “equal weight” rating and issued a $18.00 price objective (down from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $23.00 price objective (down from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given 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 price target of $20.38.

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Nuance Communications, Inc. (NUAN) opened at 15.75 on Friday. The firm has a 50-day moving average of $15.89 and a 200 day moving average of $17.20. The company’s market cap is $4.55 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 announced its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share (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 for the quarter, compared to the consensus estimate of $495.57 million. During the same period in the prior year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts expect that Nuance Communications, Inc. will post $1.00 earnings per share for the current fiscal year.

In related news, EVP Kenneth M. Siegel sold 4,682 shares of Nuance Communications stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $16.00, for a total transaction of $74,912.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel David Tempesta sold 7,500 shares of Nuance Communications stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $17.36, for a total transaction of $130,200.00. Following the transaction, the insider now directly owns 270,810 shares of the company’s stock, valued at $4,701,261.60. The disclosure for this sale can be found here. Insiders have sold a total of 25,182 shares of company stock valued at $410,317 over the last three months. 1.67% of the stock is currently owned by insiders.

Nuance Communications 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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