Greenleaf Trust decreased its position in Nuance Communications Inc. (NASDAQ:NUAN) by 23.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,765 shares of the company’s stock after selling 23,295 shares during the period. Greenleaf Trust’s holdings in Nuance Communications were worth $1,215,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of NUAN. Pictet Asset Management Ltd. boosted its stake in shares of Nuance Communications by 55.2% in the first quarter. Pictet Asset Management Ltd. now owns 882,544 shares of the company’s stock valued at $17,218,000 after buying an additional 314,016 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Nuance Communications during the first quarter valued at approximately $247,000. State Street Corp boosted its stake in shares of Nuance Communications by 5.2% in the first quarter. State Street Corp now owns 4,873,300 shares of the company’s stock valued at $91,091,000 after buying an additional 239,840 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Nuance Communications by 32.8% in the first quarter. Canada Pension Plan Investment Board now owns 917,726 shares of the company’s stock valued at $17,152,000 after buying an additional 226,600 shares during the period. Finally, Menta Capital LLC bought a new stake in shares of Nuance Communications during the first quarter valued at approximately $434,000. Hedge funds and other institutional investors own 85.18% of the company’s stock.
Nuance Communications Inc. (NASDAQ:NUAN) traded up 0.76% during midday trading on Wednesday, hitting $14.61. 738,252 shares of the company traded hands. Nuance Communications Inc. has a 12-month low of $13.74 and a 12-month high of $21.83. The stock has a 50 day moving average price of $14.54 and a 200-day moving average price of $16.26. The company’s market cap is $4.09 billion.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The business earned $484.90 million during the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Analysts expect that Nuance Communications Inc. will post $1.51 EPS for the current year.
Several analysts recently commented on NUAN shares. Deutsche Bank AG reduced their price objective on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $26.00 price objective on shares of Nuance Communications in a research note on Thursday, August 11th. Zacks Investment Research cut shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price objective on shares of Nuance Communications and gave the company a “hold” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.82.
In other Nuance Communications news, VP Adam Bruce Bowden sold 4,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the completion of the sale, the vice president now directly owns 178,195 shares of the company’s stock, valued at approximately $2,574,917.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.23% of the stock is currently owned by company insiders.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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