Royal Fund Management LLC bought a new position in shares of Nuance Communications Inc. (NASDAQ:NUAN) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,367 shares of the software maker’s stock, valued at approximately $106,000.
Several other institutional investors also recently made changes to their positions in NUAN. Parnassus Investments CA acquired a new stake in shares of Nuance Communications during the first quarter worth $115,576,000. Norges Bank acquired a new stake in shares of Nuance Communications during the fourth quarter worth $44,556,000. Renaissance Technologies LLC acquired a new stake in shares of Nuance Communications during the fourth quarter worth $40,357,000. Prudential PLC grew its stake in shares of Nuance Communications by 91.3% during the first quarter. Prudential PLC now owns 3,569,868 shares of the software maker’s stock worth $59,902,000 after purchasing an additional 1,704,004 shares during the period. Finally, Columbus Circle Investors grew its stake in shares of Nuance Communications by 199.7% during the first quarter. Columbus Circle Investors now owns 1,570,546 shares of the software maker’s stock worth $26,354,000 after purchasing an additional 1,046,466 shares during the period. 93.92% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Nuance Communications from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Wedbush reissued an “outperform” rating on shares of Nuance Communications in a research note on Friday, February 7th. BidaskClub raised Nuance Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Zacks Investment Research cut Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Guggenheim assumed coverage on Nuance Communications in a research note on Tuesday, April 14th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $23.00.
In related news, CFO Daniel David Tempesta sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $16.25, for a total transaction of $162,500.00. Following the sale, the chief financial officer now owns 564,732 shares of the company’s stock, valued at $9,176,895. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Dahdah sold 2,500 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $21.61, for a total value of $54,025.00. Following the sale, the executive vice president now directly owns 299,965 shares in the company, valued at approximately $6,482,243.65. The disclosure for this sale can be found here. Insiders sold 161,634 shares of company stock worth $3,085,124 in the last ninety days. 0.50% of the stock is owned by company insiders.
Shares of Nuance Communications stock opened at $21.46 on Friday. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 40.49, a price-to-earnings-growth ratio of 8.74 and a beta of 0.99. The stock’s 50-day moving average is $18.73 and its 200-day moving average is $18.71. Nuance Communications Inc. has a one year low of $13.51 and a one year high of $23.58. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 1.16.
Nuance Communications (NASDAQ:NUAN) last released its earnings results on Thursday, May 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Nuance Communications had a return on equity of 12.80% and a net margin of 9.06%. The business had revenue of $369.55 million for the quarter, compared to analyst estimates of $351.56 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Nuance Communications’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that Nuance Communications Inc. will post 0.48 EPS for the current year.
About Nuance Communications
Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.
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