IFM Investors Pty Ltd Invests $273,000 in Nuance Communications, Inc. (NUAN)

IFM Investors Pty Ltd acquired a new stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,704 shares of the software maker’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of Montreal Can grew its stake in shares of Nuance Communications by 40.7% during the second quarter. Bank of Montreal Can now owns 962,622 shares of the software maker’s stock worth $16,760,000 after buying an additional 278,416 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Nuance Communications by 5.3% in the second 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. grew its stake in shares of Nuance Communications by 9.9% in the second 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 grew its stake in shares of Nuance Communications by 414.0% in the first 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 grew its stake in shares of Nuance Communications by 2.1% in the second 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. Institutional investors and hedge funds own 84.34% of the company’s stock.

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NUAN has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $23.00 price target (down previously from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Barclays PLC cut their price target on shares of Nuance Communications from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 9th. Raymond James Financial, Inc. cut their price target on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 9th. Deutsche Bank AG cut their price target on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, Canaccord Genuity cut their price target on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.11.

Nuance Communications, Inc. (NASDAQ NUAN) traded down 0.947% on Friday, hitting $16.205. 406,755 shares of the stock were exchanged. Nuance Communications, Inc. has a 12 month low of $13.44 and a 12 month high of $19.93. The stock’s market cap is $4.68 billion. The company has a 50-day moving average of $16.27 and a 200-day moving average of $17.35.

Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 earnings per share 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 company had revenue of $495.60 million for the quarter, compared to analysts’ expectations of $495.57 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts predict that Nuance Communications, Inc. will post $1.00 EPS for the current year.

In related news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $17.36, for a total transaction of $130,200.00. Following the completion of the sale, the insider now directly owns 270,810 shares in the company, valued at $4,701,261.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 21,500 shares of company stock valued at $364,785 over the last three months. 1.67% of the stock is owned by corporate 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.

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

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