Phoenix Holdings Ltd. purchased a new position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 6,996 shares of the software maker’s stock, valued at approximately $218,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities Co. Ltd. bought a new position in Nuance Communications in the 3rd quarter worth about $27,000. Freestone Capital Holdings LLC bought a new position in Nuance Communications in the 3rd quarter worth about $40,000. Asset Dedication LLC bought a new position in Nuance Communications in the 3rd quarter worth about $138,000. Cerebellum GP LLC bought a new position in Nuance Communications in the 2nd quarter worth about $80,000. Finally, Banque Cantonale Vaudoise bought a new position in Nuance Communications in the 2nd quarter worth about $133,000. Institutional investors and hedge funds own 95.44% of the company’s stock.
Shares of NASDAQ NUAN opened at $41.33 on Friday. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 75.15, a P/E/G ratio of 13.39 and a beta of 1.02. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.33. Nuance Communications, Inc. has a 1-year low of $13.51 and a 1-year high of $41.58. The stock’s 50-day moving average is $33.96 and its 200 day moving average is $28.27.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Tuesday, November 17th. The software maker reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. Nuance Communications had a return on equity of 12.30% and a net margin of 10.02%. On average, analysts forecast that Nuance Communications, Inc. will post 0.47 EPS for the current fiscal year.
Several research analysts have commented on NUAN shares. Craig Hallum raised their target price on Nuance Communications from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays lifted their price target on Nuance Communications from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday. BidaskClub upgraded Nuance Communications from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 19th. Morgan Stanley lifted their price target on Nuance Communications from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 16th. Finally, Wedbush lifted their price target on Nuance Communications from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Nuance Communications presently has a consensus rating of “Buy” and an average price target of $38.29.
In other Nuance Communications news, CAO Arthur G. Giterman sold 2,472 shares of Nuance Communications stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $32.15, for a total value of $79,474.80. Following the transaction, the chief accounting officer now directly owns 89,551 shares of the company’s stock, valued at approximately $2,879,064.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark D. Benjamin sold 44,274 shares of Nuance Communications stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $33.80, for a total value of $1,496,461.20. Following the completion of the transaction, the chief executive officer now directly owns 768,832 shares in the company, valued at $25,986,521.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,776 shares of company stock worth $2,863,484. 0.50% of the stock is currently owned by insiders.
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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