Green Square Capital LLC trimmed its holdings in Nuance Communications Inc. (NASDAQ:NUAN) by 5.6% in the second quarter, Holdings Channel reports. The institutional investor owned 58,403 shares of the software maker’s stock after selling 3,447 shares during the quarter. Green Square Capital LLC’s holdings in Nuance Communications were worth $811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global X Management Co LLC acquired a new stake in shares of Nuance Communications in the second quarter valued at about $184,000. California Public Employees Retirement System raised its position in shares of Nuance Communications by 22.3% in the second quarter. California Public Employees Retirement System now owns 921,469 shares of the software maker’s stock valued at $12,795,000 after buying an additional 168,075 shares during the last quarter. Vident Investment Advisory LLC raised its position in shares of Nuance Communications by 18.0% in the second quarter. Vident Investment Advisory LLC now owns 1,596,622 shares of the software maker’s stock valued at $22,169,000 after buying an additional 243,102 shares during the last quarter. Criterion Capital Management LLC raised its position in shares of Nuance Communications by 140.1% in the second quarter. Criterion Capital Management LLC now owns 6,435,017 shares of the software maker’s stock valued at $89,350,000 after buying an additional 3,755,121 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in shares of Nuance Communications by 35.8% in the second quarter. First Republic Investment Management Inc. now owns 73,449 shares of the software maker’s stock valued at $1,020,000 after buying an additional 19,343 shares during the last quarter. Institutional investors and hedge funds own 88.68% of the company’s stock.

Shares of NUAN opened at $17.05 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.32. Nuance Communications Inc. has a 12-month low of $12.18 and a 12-month high of $18.75. The stock has a market capitalization of $4.80 billion, a P/E ratio of 28.42, a PEG ratio of 1.87 and a beta of 0.74.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Wednesday, August 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. Nuance Communications had a negative net margin of 9.55% and a positive return on equity of 9.67%. The firm had revenue of $502.89 million during the quarter, compared to analyst estimates of $495.53 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Nuance Communications’s quarterly revenue was up 3.4% on a year-over-year basis. equities research analysts anticipate that Nuance Communications Inc. will post 0.75 EPS for the current year.

Nuance Communications declared that its board has approved a stock buyback plan on Wednesday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other Nuance Communications news, insider Daniel David Tempesta sold 3,000 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $16.75, for a total transaction of $50,250.00. Following the completion of the transaction, the insider now owns 329,883 shares of the company’s stock, valued at $5,525,540.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert Weideman sold 8,350 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $16.30, for a total transaction of $136,105.00. Following the transaction, the executive vice president now directly owns 428,740 shares of the company’s stock, valued at approximately $6,988,462. The disclosure for this sale can be found here. Insiders sold 26,350 shares of company stock valued at $431,680 in the last three months. 1.24% of the stock is currently owned by insiders.

NUAN has been the subject of a number of analyst reports. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research raised shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, August 15th. ValuEngine raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Standpoint Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, Barclays upped their price objective on shares of Nuance Communications from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $19.57.

Nuance Communications Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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

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