Teachers Advisors LLC boosted its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 0.45% of Nuance Communications worth $22,833,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Pictet Asset Management Ltd. increased its stake in shares of Nuance Communications by 49.3% in the first quarter. Pictet Asset Management Ltd. now owns 3,942,822 shares of the software maker’s stock valued at $68,250,000 after buying an additional 1,302,167 shares during the period. Norges Bank purchased a new stake in shares of Nuance Communications during the fourth quarter valued at $18,618,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Nuance Communications during the first quarter valued at $19,122,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Nuance Communications by 60.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,721,507 shares of the software maker’s stock valued at $47,109,000 after buying an additional 1,029,472 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Nuance Communications during the first quarter valued at $17,310,000. 85.97% of the stock is owned by institutional investors.
Shares of Nuance Communications, Inc. (NUAN) opened at 17.41 on Wednesday. The company has a 50-day moving average of $18.70 and a 200 day moving average of $17.07. The stock’s market cap is $5.01 billion. Nuance Communications, Inc. has a one year low of $13.44 and a one year high of $19.93.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $511.10 million for the quarter, compared to analyst estimates of $506.83 million. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts predict that Nuance Communications, Inc. will post $1.18 earnings per share for the current year.
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Several equities research analysts recently weighed in on NUAN shares. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Barclays PLC restated a “buy” rating and issued a $22.00 target price on shares of Nuance Communications in a report on Friday, May 12th. Deutsche Bank AG restated a “buy” rating and issued a $25.00 target price on shares of Nuance Communications in a report on Monday, June 12th. Stifel Nicolaus raised their target price on shares of Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. Finally, BidaskClub cut shares of Nuance Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Nuance Communications presently has a consensus rating of “Buy” and an average target price of $22.00.
In other news, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $17.42, for a total value of $130,650.00. Following the sale, the insider now directly owns 283,810 shares of the company’s stock, valued at approximately $4,943,970.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Adam Bruce Bowden sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $17.01, for a total transaction of $34,020.00. Following the completion of the sale, the vice president now directly owns 188,290 shares in the company, valued at $3,202,812.90. The disclosure for this sale can be found here. Insiders have sold a total of 202,861 shares of company stock worth $3,835,693 in the last 90 days. 1.67% of the stock is currently owned by company 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.
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