Sawtooth Solutions LLC bought a new position in Nuance Communications Inc. (NASDAQ:NUAN) in the 1st quarter, HoldingsChannel reports. The fund bought 11,064 shares of the software maker’s stock, valued at approximately $187,000.
A number of other hedge funds also recently made changes to their positions in the business. Bremer Bank National Association acquired a new stake in Nuance Communications in the first quarter valued at approximately $30,000. Bremer Trust National Association purchased a new stake in shares of Nuance Communications in the 4th quarter valued at approximately $26,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Nuance Communications by 81.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,129 shares of the software maker’s stock valued at $28,000 after acquiring an additional 956 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Nuance Communications by 25.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock valued at $53,000 after acquiring an additional 628 shares during the period. Finally, Enlightenment Research LLC purchased a new stake in shares of Nuance Communications in the 4th quarter valued at approximately $74,000. Institutional investors and hedge funds own 87.84% of the company’s stock.
Shares of NUAN opened at $17.01 on Friday. Nuance Communications Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $18.16. The company has a market cap of $4.99 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). Nuance Communications had a return on equity of 14.00% and a net margin of 2.44%. The business had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $449.90 million. During the same period in the previous year, the company earned $0.27 earnings per share. Nuance Communications’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts forecast that Nuance Communications Inc. will post 0.8 earnings per share for the current fiscal year.
In other Nuance Communications news, EVP Thomas L. Beaudoin sold 8,326 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $16.85, for a total transaction of $140,293.10. Following the completion of the transaction, the executive vice president now owns 309,821 shares in the company, valued at approximately $5,220,483.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Benjamin sold 45,396 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $17.40, for a total transaction of $789,890.40. Following the transaction, the chief executive officer now owns 629,430 shares of the company’s stock, valued at approximately $10,952,082. The disclosure for this sale can be found here. Insiders have sold a total of 127,633 shares of company stock valued at $2,190,280 in the last quarter. 0.68% of the stock is currently owned by company insiders.
NUAN has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research raised shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday, April 4th. Wedbush reissued a “buy” rating and issued a $22.00 price target on shares of Nuance Communications in a research note on Thursday, May 9th. Finally, ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.20.
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Nuance Communications 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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