Eaton Vance Management Acquires New Stake in Nuance Communications Inc. (NUAN)

Eaton Vance Management bought a new stake in Nuance Communications Inc. (NASDAQ:NUAN) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 65,725 shares of the software maker’s stock, valued at approximately $1,035,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NUAN. CIBC World Markets Inc. purchased a new position in shares of Nuance Communications in the 4th quarter valued at $176,000. Two Sigma Securities LLC purchased a new position in shares of Nuance Communications in the 4th quarter valued at $259,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Nuance Communications by 49.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,921 shares of the software maker’s stock valued at $260,000 after buying an additional 5,245 shares during the last quarter. James Hambro & Partners purchased a new position in shares of Nuance Communications in the 4th quarter valued at $276,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Nuance Communications in the 4th quarter valued at $277,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on NUAN shares. BidaskClub downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Morgan Stanley set a $20.00 target price on shares of Nuance Communications and gave the company a “buy” rating in a research report on Thursday, March 22nd. ValuEngine downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.00 target price (down from $18.00) on shares of Nuance Communications in a research report on Thursday, May 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Nuance Communications currently has a consensus rating of “Hold” and an average target price of $20.00.

Shares of NASDAQ:NUAN opened at $14.01 on Thursday. The firm has a market cap of $4.16 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.66. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.22. Nuance Communications Inc. has a 1-year low of $12.18 and a 1-year high of $19.49.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Wednesday, May 9th. The software maker reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The business had revenue of $518.31 million for the quarter, compared to analyst estimates of $516.43 million. Nuance Communications had a positive return on equity of 9.42% and a negative net margin of 10.32%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. research analysts expect that Nuance Communications Inc. will post 0.7 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

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