IBM Retirement Fund cut its position in Nuance Communications Inc. (NASDAQ:NUAN) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,172 shares of the company’s stock after selling 1,389 shares during the period. IBM Retirement Fund’s holdings in Nuance Communications were worth $307,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in NUAN. Vanguard Group Inc. boosted its stake in shares of Nuance Communications by 12.9% in the second quarter. Vanguard Group Inc. now owns 19,511,687 shares of the company’s stock worth $304,969,000 after buying an additional 2,236,823 shares during the period. AQR Capital Management LLC boosted its stake in shares of Nuance Communications by 150.0% in the second quarter. AQR Capital Management LLC now owns 4,429,776 shares of the company’s stock worth $69,238,000 after buying an additional 2,657,896 shares during the period. Numeric Investors LLC boosted its stake in shares of Nuance Communications by 83.0% in the second quarter. Numeric Investors LLC now owns 4,244,907 shares of the company’s stock worth $66,348,000 after buying an additional 1,925,807 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Nuance Communications by 6.2% in the second quarter. Neuberger Berman Group LLC now owns 4,097,260 shares of the company’s stock worth $64,040,000 after buying an additional 238,014 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Nuance Communications during the second quarter worth $49,969,000. 82.49% of the stock is owned by institutional investors.
Nuance Communications Inc. (NASDAQ:NUAN) traded down 0.19% on Friday, reaching $15.74. 1,651,896 shares of the company’s stock traded hands. The stock’s market cap is $4.53 billion. The stock has a 50 day moving average price of $15.39 and a 200 day moving average price of $15.05. Nuance Communications Inc. has a 12-month low of $13.44 and a 12-month high of $20.56.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Nuance Communications had a negative net margin of 0.63% and a positive return on equity of 14.93%. The business earned $512.40 million during the quarter, compared to analyst estimates of $505.10 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Analysts forecast that Nuance Communications Inc. will post $1.59 EPS for the current year.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 5th. Raymond James Financial Inc. upgraded shares of Nuance Communications from an “outperform” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a report on Friday, November 18th. Canaccord Genuity reiterated a “buy” rating on shares of Nuance Communications in a report on Friday, November 18th. Barclays PLC upgraded shares of Nuance Communications from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $17.00 to $19.00 in a report on Friday, January 6th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a report on Friday, November 18th. Two research analysts have rated the stock with a hold rating, six have given 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 $22.50.
In related news, EVP Kenneth M. Siegel sold 6,243 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $16.72, for a total transaction of $104,382.96. Following the completion of the transaction, the executive vice president now owns 89,494 shares in the company, valued at approximately $1,496,339.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Adam Bruce Bowden sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $13.96, for a total transaction of $55,840.00. Following the transaction, the vice president now owns 170,195 shares of the company’s stock, valued at approximately $2,375,922.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,363 shares of company stock valued at $701,650. Company insiders own 1.67% of the company’s stock.
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 Company offers its customers solutions in automated speech recognition; capabilities for natural language understanding; dialog and information management; biometric speaker authentication; text-to-speech; optical character recognition (OCR) capabilities, and domain knowledge, along with professional services and implementation support.
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