Ritholtz Wealth Management bought a new position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,400 shares of the software maker’s stock, valued at approximately $212,000.
Several other hedge funds have also recently bought and sold shares of the business. Cerebellum GP LLC bought a new stake in shares of Nuance Communications in the 2nd quarter worth approximately $80,000. Banque Cantonale Vaudoise bought a new stake in shares of Nuance Communications in the 2nd quarter worth approximately $133,000. Asset Dedication LLC bought a new stake in shares of Nuance Communications in the 3rd quarter worth approximately $138,000. Teacher Retirement System of Texas bought a new stake in shares of Nuance Communications in the 2nd quarter worth approximately $234,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Nuance Communications in the 2nd quarter worth approximately $256,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.
In other news, SVP Arthur G. Giterman sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $30.25, for a total value of $121,000.00. Following the completion of the sale, the senior vice president now directly owns 92,023 shares in the company, valued at approximately $2,783,695.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Carl Petro sold 30,030 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $33.26, for a total value of $998,797.80. Following the completion of the sale, the executive vice president now owns 264,536 shares of the company’s stock, valued at $8,798,467.36. The disclosure for this sale can be found here. Insiders sold a total of 41,502 shares of company stock valued at $1,367,023 over the last 90 days. 0.50% of the stock is currently owned by company insiders.
Shares of NASDAQ NUAN traded down $0.90 during midday trading on Monday, hitting $33.40. 14,664 shares of the stock traded hands, compared to its average volume of 3,670,829. The firm has a 50-day moving average of $32.85 and a two-hundred day moving average of $26.09. The firm has a market capitalization of $9.68 billion, a P/E ratio of 62.36, a PEG ratio of 13.58 and a beta of 0.98. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.28 and a current ratio of 1.28. Nuance Communications, Inc. has a one year low of $13.51 and a one year high of $35.65.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $338.40 million for the quarter, compared to analysts’ expectations of $317.40 million. Nuance Communications had a return on equity of 12.30% and a net margin of 10.02%. Equities analysts forecast that Nuance Communications, Inc. will post 0.47 earnings per share for the current fiscal year.
NUAN has been the topic of a number of analyst reports. Cfra cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 6th. Wedbush upped their price objective on Nuance Communications from $33.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. Craig Hallum upped their price objective on Nuance Communications from $25.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley upped their price objective on Nuance Communications from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, BidaskClub raised Nuance Communications from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nuance Communications has an average rating of “Buy” and a consensus price target of $32.86.
About Nuance Communications
Nuance Communications, Inc provides conversational artificial intelligence (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. It offers customers high accuracy in automated speech recognition, natural language understanding capabilities, dialog and information management, biometric speaker authentication, text-to-speech, and domain knowledge along with professional services and implementation support.
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