Delta Lloyd Asset Management N.V. bought a new position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,803 shares of the software maker’s stock, valued at approximately $589,000.
Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of Nuance Communications by 19.3% during the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after acquiring an additional 1,100 shares during the period. Ledyard National Bank increased its position in shares of Nuance Communications by 4.8% during the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after acquiring an additional 330 shares during the period. IFP Advisors Inc increased its holdings in Nuance Communications by 5.1% during the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock valued at $143,000 after buying an additional 400 shares during the period. World Asset Management Inc purchased a new position in Nuance Communications during the first quarter valued at approximately $180,000. Finally, Westover Capital Advisors LLC purchased a new position in Nuance Communications during the first quarter valued at approximately $185,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts recently issued reports on the stock. 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. Raymond James Financial, Inc. lowered their target price on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. 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, July 25th. Finally, Zacks Investment Research downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Nuance Communications currently has an average rating of “Hold” and a consensus price target of $20.11.
In other news, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $15.99, for a total value of $103,935.00. Following the transaction, the insider now owns 270,677 shares in the company, valued at approximately $4,328,125.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 21,500 shares of company stock worth $364,785 in the last quarter. 1.67% of the stock is owned by corporate insiders.
Nuance Communications, Inc. (NUAN) opened at 16.05 on Friday. 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 of $16.18 and a 200-day moving average of $17.34. The stock’s market cap is $4.63 billion.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The business had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. Nuance Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Equities analysts predict 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.
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