Envestnet Asset Management Inc. trimmed its holdings in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 22.3% during the first quarter, HoldingsChannel.com reports. The firm owned 457,269 shares of the software maker’s stock after selling 131,534 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Nuance Communications were worth $7,742,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Globeflex Capital L P raised its stake in shares of Nuance Communications by 66.9% in the 1st quarter. Globeflex Capital L P now owns 108,286 shares of the software maker’s stock valued at $1,833,000 after acquiring an additional 43,421 shares in the last quarter. Financial Counselors Inc. bought a new position in shares of Nuance Communications in the 1st quarter valued at approximately $203,000. Icon Wealth Partners LLC bought a new position in shares of Nuance Communications in the 1st quarter valued at approximately $111,000. Bremer Bank National Association bought a new position in Nuance Communications in the 1st quarter worth approximately $30,000. Finally, Wesbanco Bank Inc. bought a new position in Nuance Communications in the 1st quarter worth approximately $630,000. 87.84% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. BidaskClub raised Nuance Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised Nuance Communications from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, May 15th. ValuEngine raised Nuance Communications from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Wedbush reaffirmed a “buy” rating and issued a $22.00 price target on shares of Nuance Communications in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Nuance Communications currently has a consensus rating of “Buy” and an average target price of $19.20.
NUAN stock opened at $16.99 on Wednesday. The firm has a market cap of $4.97 billion, a PE ratio of 20.98, a PEG ratio of 4.30 and a beta of 1.05. Nuance Communications Inc. has a twelve month low of $12.66 and a twelve month high of $18.16. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The company had revenue of $451.00 million during the quarter, compared to the consensus estimate of $449.90 million. Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. On average, equities research analysts predict that Nuance Communications Inc. will post 0.8 earnings per share for the current fiscal year.
In other news, EVP Thomas L. Beaudoin sold 8,301 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.05, for a total transaction of $141,532.05. Following the completion of the transaction, the executive vice president now directly owns 293,294 shares of the company’s stock, valued at $5,000,662.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Weideman sold 12,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.05, for a total value of $204,600.00. Following the transaction, the insider now directly owns 439,900 shares of the company’s stock, valued at $7,500,295. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,237 shares of company stock valued at $1,226,690. Insiders own 0.68% of the company’s stock.
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Nuance Communications Company Profile
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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