Highbridge Capital Management LLC lessened its position in Nuance Communications, Inc. (NASDAQ:NUAN) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 733,837 shares of the software maker’s stock after selling 145,821 shares during the period. Highbridge Capital Management LLC owned approximately 0.25% of Nuance Communications worth $11,536,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NUAN. Ameriprise Financial Inc. increased its holdings in shares of Nuance Communications by 15.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock worth $306,763,000 after acquiring an additional 2,383,671 shares during the period. Pictet Asset Management Ltd. grew its position in Nuance Communications by 29.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock valued at $84,746,000 after buying an additional 1,224,085 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in Nuance Communications in the 3rd quarter valued at about $18,864,000. Sirios Capital Management L P grew its position in Nuance Communications by 30.9% in the 3rd quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock valued at $78,838,000 after buying an additional 1,183,013 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Nuance Communications by 4,461.1% in the 2nd quarter. American Century Companies Inc. now owns 1,058,903 shares of the software maker’s stock valued at $18,436,000 after buying an additional 1,035,687 shares in the last quarter. 85.56% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Kenneth M. Siegel sold 4,682 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $14.40, for a total transaction of $67,420.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel David Tempesta sold 6,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the transaction, the insider now owns 258,188 shares of the company’s stock, valued at approximately $4,022,569.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,864 shares of company stock valued at $243,603. Insiders own 1.67% of the company’s stock.
Nuance Communications, Inc. (NASDAQ:NUAN) opened at $15.60 on Monday. The stock has a market cap of $4,528.34, a PE ratio of 19.50, a P/E/G ratio of 1.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 1.19. Nuance Communications, Inc. has a 12-month low of $14.02 and a 12-month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. The company had revenue of $474.70 million during the quarter, compared to analyst estimates of $457.09 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. equities analysts forecast that Nuance Communications, Inc. will post 0.81 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, December 5th. TheStreet lowered shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Oppenheimer reiterated a “buy” rating and issued a $23.00 target price on shares of Nuance Communications in a research report on Wednesday, November 29th. Stifel Nicolaus reiterated a “hold” rating and issued a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $18.00 target price on shares of Nuance Communications in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, seven 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 “Buy” and a consensus target price of $20.50.
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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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