BNP Paribas Arbitrage SA boosted its stake in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 19.0% during the third quarter, Holdings Channel reports. The fund owned 9,776 shares of the company’s stock after buying an additional 1,562 shares during the period. BNP Paribas Arbitrage SA’s holdings in Nuance Communications were worth $142,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of NUAN. Renaissance Technologies LLC increased its stake in shares of Nuance Communications by 2.1% in the first quarter. Renaissance Technologies LLC now owns 3,182,655 shares of the company’s stock valued at $59,484,000 after buying an additional 65,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nuance Communications by 3.3% in the first quarter. Geode Capital Management LLC now owns 1,664,966 shares of the company’s stock valued at $31,101,000 after buying an additional 53,731 shares in the last quarter. State Street Corp increased 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 in the last quarter. Strs Ohio increased its stake in shares of Nuance Communications by 10.5% in the second quarter. Strs Ohio now owns 4,143,417 shares of the company’s stock valued at $64,761,000 after buying an additional 394,303 shares in the last quarter. Finally, Bayesian Capital Management LP increased its stake in shares of Nuance Communications by 4.6% in the first quarter. Bayesian Capital Management LP now owns 24,968 shares of the company’s stock valued at $467,000 after buying an additional 1,100 shares in the last quarter. 85.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Nuance Communications Inc. (NASDAQ:NUAN) opened at 13.93 on Wednesday. The firm has a 50-day moving average of $14.51 and a 200-day moving average of $16.13. The firm’s market cap is $3.90 billion. Nuance Communications Inc. has a 52 week low of $13.74 and a 52 week high of $21.83.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. The firm had revenue of $484.90 million for 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 business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. On average, analysts expect that Nuance Communications Inc. will post $1.51 EPS for the current year.
NUAN has been the subject of several research reports. Deutsche Bank AG lowered 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 report on Tuesday, August 9th. Barclays PLC set a $19.00 price objective on shares of Nuance Communications and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Zacks Investment Research raised shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $26.00 price objective on shares of Nuance Communications in a research report on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Nuance Communications presently has an average rating of “Buy” and a consensus target price of $21.82.
In related news, VP Adam Bruce Bowden sold 6,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $16.03, for a total value of $96,180.00. Following the transaction, the vice president now directly owns 193,490 shares of the company’s stock, valued at approximately $3,101,644.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.23% of the stock is currently owned by corporate 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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