Nisa Investment Advisors LLC cut its stake in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 22,030 shares of the company’s stock after selling 400 shares during the period. Nisa Investment Advisors LLC’s holdings in Nuance Communications were worth $344,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. bought a new position in Nuance Communications during the first quarter valued at about $3,702,000. Acrospire Investment Management LLC bought a new position in Nuance Communications during the first quarter valued at about $292,000. Tobam raised its position in Nuance Communications by 10.4% in the first quarter. Tobam now owns 171,609 shares of the company’s stock valued at $3,208,000 after buying an additional 16,118 shares during the period. Algert Global LLC raised its position in Nuance Communications by 21.3% in the first quarter. Algert Global LLC now owns 71,614 shares of the company’s stock valued at $1,338,000 after buying an additional 12,554 shares during the period. Finally, Wrapmanager Inc. raised its position in Nuance Communications by 5.8% in the first quarter. Wrapmanager Inc. now owns 14,871 shares of the company’s stock valued at $278,000 after buying an additional 813 shares during the period. Institutional investors own 85.18% of the company’s stock.
Shares of Nuance Communications Inc. (NASDAQ:NUAN) traded down 0.68% during midday trading on Friday, reaching $14.56. The company had a trading volume of 1,297,879 shares. The stock’s market capitalization is $4.07 billion. The company’s 50 day moving average price is $14.69 and its 200 day moving average price is $16.58. Nuance Communications Inc. has a 52-week low of $13.74 and a 52-week high of $21.83.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $484.90 million for the quarter, compared to analyst estimates of $489.54 million. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. Nuance Communications’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Equities research analysts expect that Nuance Communications Inc. will post $1.51 earnings per share for the current year.
Several research firms have issued reports on NUAN. Deutsche Bank AG cut their target price on Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Barclays PLC set a $19.00 price target on Nuance Communications and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Zacks Investment Research lowered Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $26.00 price target on shares of Nuance Communications in a research note on Thursday, August 11th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $21.82.
In other Nuance Communications news, VP Adam Bruce Bowden sold 6,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $16.03, for a total value of $96,180.00. Following the sale, the vice president now owns 193,490 shares of the company’s stock, valued at approximately $3,101,644.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.23% of the stock is owned by company insiders.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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