Great West Life Assurance Co. Can grew its stake in Nuance Communications Inc. (NASDAQ:NUAN) by 6.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 661,539 shares of the software maker’s stock after buying an additional 41,811 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Nuance Communications were worth $11,489,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its holdings in shares of Nuance Communications by 23.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 40,265 shares of the software maker’s stock valued at $559,000 after purchasing an additional 7,529 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Nuance Communications by 67.2% in the 2nd quarter. D.A. Davidson & CO. now owns 90,841 shares of the software maker’s stock valued at $1,262,000 after purchasing an additional 36,507 shares during the period. Wrapmanager Inc. raised its holdings in shares of Nuance Communications by 72.9% in the 2nd quarter. Wrapmanager Inc. now owns 28,354 shares of the software maker’s stock valued at $394,000 after purchasing an additional 11,957 shares during the period. Sei Investments Co. raised its holdings in shares of Nuance Communications by 1.3% in the 2nd quarter. Sei Investments Co. now owns 373,792 shares of the software maker’s stock valued at $5,191,000 after purchasing an additional 4,761 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in shares of Nuance Communications in the 2nd quarter valued at about $199,000. Institutional investors and hedge funds own 88.37% of the company’s stock.
A number of brokerages have recently issued reports on NUAN. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Wedbush began coverage on shares of Nuance Communications in a report on Thursday, October 18th. They issued an “outperform” rating and a $22.00 target price on the stock. Zacks Investment Research cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Tuesday, October 16th. Finally, Barclays upped their target price on shares of Nuance Communications from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Nuance Communications has a consensus rating of “Hold” and an average price target of $19.88.
Nuance Communications stock opened at $15.61 on Friday. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.61 and a beta of 0.84. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.27. Nuance Communications Inc. has a twelve month low of $12.18 and a twelve month high of $18.75.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Monday, November 19th. The software maker reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.06. The firm had revenue of $536.21 million for the quarter, compared to analysts’ expectations of $525.05 million. Nuance Communications had a negative net margin of 7.80% and a positive return on equity of 12.66%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. As a group, equities analysts forecast that Nuance Communications Inc. will post 0.81 earnings per share for the current fiscal year.
In other Nuance Communications news, EVP Daniel David Tempesta sold 9,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $17.35, for a total value of $156,150.00. Following the transaction, the executive vice president now directly owns 323,994 shares of the company’s stock, valued at approximately $5,621,295.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alvaro Monserrat sold 20,000 shares of the stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $16.05, for a total transaction of $321,000.00. Following the completion of the transaction, the insider now directly owns 217,743 shares in the company, valued at $3,494,775.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,660 shares of company stock worth $1,549,188. Insiders own 1.67% of the company’s stock.
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About Nuance Communications
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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