Westpac Banking Corp raised its position in Nuance Communications Inc. (NASDAQ:NUAN) by 362.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,778 shares of the company’s stock after buying an additional 419,115 shares during the period. Westpac Banking Corp owned approximately 0.19% of Nuance Communications worth $7,336,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Nuance Communications by 8.7% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,402 shares of the company’s stock worth $1,428,000 after buying an additional 6,084 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Nuance Communications by 82.6% in the first quarter. Fisher Asset Management LLC now owns 761,711 shares of the company’s stock worth $14,473,000 after buying an additional 344,486 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Nuance Communications by 16.6% in the first quarter. Raymond James Trust N.A. now owns 14,269 shares of the company’s stock worth $267,000 after buying an additional 2,027 shares in the last quarter. Aperio Group LLC raised its position in shares of Nuance Communications by 243.0% in the first quarter. Aperio Group LLC now owns 53,357 shares of the company’s stock worth $997,000 after buying an additional 37,800 shares in the last quarter. Finally, Virginia Retirement System acquired a new position in shares of Nuance Communications during the first quarter worth $765,000. Institutional investors and hedge funds own 85.55% of the company’s stock.
Nuance Communications Inc. (NASDAQ:NUAN) traded up 0.92% during trading on Monday, reaching $14.28. The company had a trading volume of 170,081 shares. The firm’s 50 day moving average is $15.09 and its 200 day moving average is $16.91. Nuance Communications Inc. has a one year low of $14.14 and a one year high of $21.83. The company’s market capitalization is $3.99 billion.
Nuance Communications (NASDAQ:NUAN) last released its earnings results on Monday, August 8th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. The company had revenue of $484.90 million for the quarter, compared to the consensus estimate of $489.54 million. During the same period in the previous year, the business earned $0.32 earnings per share. Nuance Communications’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that Nuance Communications Inc. will post $1.51 earnings per share for the current year.
A number of equities analysts have weighed in on NUAN shares. Zacks Investment Research lowered Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Deutsche Bank AG reduced their price objective on Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Barclays PLC set a $19.00 price objective on Nuance Communications and gave the company a “hold” rating in a research report on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $26.00 price objective on shares of Nuance Communications in a research report on Thursday, August 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $21.82.
In other news, VP Adam Bruce Bowden sold 6,000 shares of the business’s 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 transaction, the vice president now directly owns 193,490 shares in the company, valued at $3,101,644.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.23% of the stock is owned by insiders.
Nuance Communications Company Profile
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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