Teachers Advisors LLC raised its stake in Nuance Communications, Inc. (NASDAQ:NUAN) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319,052 shares of the software maker’s stock after buying an additional 39,163 shares during the period. Teachers Advisors LLC owned about 0.45% of Nuance Communications worth $22,833,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its stake in Nuance Communications by 19.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 119,420 shares of the software maker’s stock valued at $2,068,000 after buying an additional 19,308 shares during the last quarter. Reliance Trust Co. of Delaware raised its stake in Nuance Communications by 9.3% in the first quarter. Reliance Trust Co. of Delaware now owns 57,294 shares of the software maker’s stock valued at $991,000 after buying an additional 4,887 shares during the last quarter. Bank of Montreal Can raised its stake in Nuance Communications by 2,147.4% in the first quarter. Bank of Montreal Can now owns 684,206 shares of the software maker’s stock valued at $11,845,000 after buying an additional 653,762 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in Nuance Communications during the first quarter valued at approximately $185,000. Finally, Peregrine Capital Management LLC raised its stake in Nuance Communications by 13.8% in the first quarter. Peregrine Capital Management LLC now owns 2,346,535 shares of the software maker’s stock valued at $39,938,000 after buying an additional 283,896 shares during the last quarter. 85.38% of the stock is currently owned by institutional investors and hedge funds.
Nuance Communications, Inc. (NUAN) traded up 0.90% on Friday, hitting $16.85. 1,019,709 shares of the stock traded hands. The company’s market capitalization is $4.85 billion. 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 price of $17.73 and a 200-day moving average price of $17.41.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The firm had revenue of $511.10 million during the quarter, compared to the consensus estimate of $506.83 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts forecast that Nuance Communications, Inc. will post $1.10 earnings per share for the current year.
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Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 17th. Barclays PLC reissued a “buy” rating and set a $22.00 price objective on shares of Nuance Communications in a research note on Friday, May 12th. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price objective on shares of Nuance Communications in a research note on Monday, June 12th. Stifel Nicolaus upped their target price on shares of Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Nuance Communications currently has a consensus rating of “Hold” and a consensus target price of $20.89.
In related news, Director Katherine A. Martin sold 10,000 shares of Nuance Communications stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $19.12, for a total value of $191,200.00. Following the completion of the sale, the director now directly owns 97,880 shares in the company, valued at approximately $1,871,465.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Ricci sold 139,267 shares of Nuance Communications stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $19.10, for a total transaction of $2,659,999.70. Following the completion of the sale, the chief executive officer now owns 2,090,036 shares of the company’s stock, valued at $39,919,687.60. The disclosure for this sale can be found here. Insiders sold a total of 205,861 shares of company stock worth $3,886,873 over the last 90 days. Company insiders own 1.67% of the company’s stock.
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.
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