Country Trust Bank maintained its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 963,530 shares of the software maker’s stock at the end of the second quarter. Country Trust Bank owned 0.33% of Nuance Communications worth $16,775,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of NUAN. Janney Montgomery Scott LLC raised its position in Nuance Communications by 8.6% in the second quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the software maker’s stock valued at $806,000 after buying an additional 3,674 shares during the period. NGAM Advisors L.P. raised its stake in shares of Nuance Communications by 535.5% in the second quarter. NGAM Advisors L.P. now owns 990,827 shares of the software maker’s stock worth $17,250,000 after buying an additional 834,925 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Nuance Communications by 3.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 54,567 shares of the software maker’s stock worth $950,000 after buying an additional 1,944 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Nuance Communications by 5.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,866,407 shares of the software maker’s stock worth $49,904,000 after buying an additional 144,900 shares during the last quarter. Finally, Trellus Management Company LLC raised its stake in shares of Nuance Communications by 9.7% in the second quarter. Trellus Management Company LLC now owns 35,000 shares of the software maker’s stock worth $609,000 after buying an additional 3,100 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.
Nuance Communications, Inc. (NUAN) opened at 15.70 on Friday. Nuance Communications, Inc. has a 1-year low of $13.44 and a 1-year high of $19.93. The company has a 50-day moving average price of $17.01 and a 200-day moving average price of $17.44. The company’s market cap is $4.53 billion.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.09. Nuance Communications had a positive return on equity of 14.73% and a negative net margin of 3.38%. The firm had revenue of $495.60 million for the quarter, compared to analyst estimates of $495.57 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. Nuance Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts expect that Nuance Communications, Inc. will post $1.00 EPS for the current fiscal year.
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NUAN has been the subject of a number of recent research reports. Barclays PLC restated a “buy” rating and issued a $22.00 target price on shares of Nuance Communications in a research note on Friday, May 12th. Zacks Investment Research downgraded Nuance Communications from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 17th. BidaskClub downgraded Nuance Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $25.00 price objective on shares of Nuance Communications in a research note on Monday, June 12th. Finally, Stifel Nicolaus increased their target price on Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.11.
In related news, insider Daniel David Tempesta sold 8,500 shares of Nuance Communications stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $18.61, for a total value of $158,185.00. Following the completion of the transaction, the insider now owns 286,810 shares in the company, valued at $5,337,534.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Ricci sold 139,267 shares of the business’s 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 sale, the chief executive officer now owns 2,090,036 shares of the company’s stock, valued at approximately $39,919,687.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,267 shares of company stock valued at $3,239,095. 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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