Kennedy Capital Management Inc. raised its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 73.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,063 shares of the software maker’s stock after buying an additional 146,063 shares during the period. Kennedy Capital Management Inc. owned 0.12% of Nuance Communications worth $5,990,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in Nuance Communications during the fourth quarter worth about $18,618,000. Assenagon Asset Management S.A. purchased a new stake in Nuance Communications during the fourth quarter worth about $9,614,000. Putnam Investments LLC increased its stake in Nuance Communications by 0.3% in the fourth quarter. Putnam Investments LLC now owns 328,487 shares of the software maker’s stock worth $4,895,000 after buying an additional 823 shares during the last quarter. Lebenthal Asset Management LLC increased its stake in Nuance Communications by 11,793.7% in the fourth quarter. Lebenthal Asset Management LLC now owns 45,553 shares of the software maker’s stock worth $679,000 after buying an additional 45,170 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in Nuance Communications by 188.4% in the fourth quarter. Guggenheim Capital LLC now owns 115,614 shares of the software maker’s stock worth $1,722,000 after buying an additional 75,523 shares during the last quarter. 85.99% of the stock is currently owned by institutional investors.
Nuance Communications, Inc. (NUAN) traded up 0.64% during trading on Friday, hitting $18.91. The stock had a trading volume of 857,289 shares. The company’s market cap is $5.44 billion. The company’s 50 day moving average is $18.67 and its 200-day moving average is $16.95. Nuance Communications, Inc. has a 12 month low of $13.44 and a 12 month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last released its earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.04. The firm had revenue of $511.10 million during the quarter, compared to analysts’ expectations of $506.83 million. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, equities research analysts predict that Nuance Communications, Inc. will post $1.18 earnings per share for the current year.
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A number of analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Nuance Communications in a research note on Monday, June 12th. Stifel Nicolaus lifted their price objective on Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Nuance Communications in a research note on Friday, May 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Nuance Communications presently has an average rating of “Buy” and a consensus target price of $22.00.
In related news, VP Adam Bruce Bowden sold 5,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $19.15, for a total value of $95,750.00. Following the completion of the sale, the vice president now owns 149,414 shares of the company’s stock, valued at $2,861,278.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert C. Schassler sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $18.00, for a total value of $45,000.00. Following the completion of the sale, the insider now directly owns 209,536 shares of the company’s stock, valued at approximately $3,771,648. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,492 shares of company stock worth $3,857,988. Company insiders own 1.67% of the company’s stock.
About Nuance Communications
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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