King Luther Capital Management Corp Invests $346,000 in Nuance Communications, Inc. (NUAN)

King Luther Capital Management Corp bought a new stake in Nuance Communications, Inc. (NASDAQ:NUAN) during the first quarter, according to its most recent filing with the SEC. The firm bought 20,000 shares of the software maker’s stock, valued at approximately $346,000.

A number of other hedge funds also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. increased its stake in shares of Nuance Communications by 19.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 119,420 shares of the software maker’s stock valued at $2,068,000 after buying an additional 19,308 shares during the period. Reliance Trust Co. of Delaware increased its stake in shares of Nuance Communications by 9.3% in the first quarter. Reliance Trust Co. of Delaware now owns 57,294 shares of the software maker’s stock valued at $991,000 after buying an additional 4,887 shares during the period. Stoneridge Investment Partners LLC bought a new stake in shares of Nuance Communications during the first quarter valued at approximately $1,071,000. Comerica Bank bought a new stake in shares of Nuance Communications during the fourth quarter valued at approximately $194,000. Finally, DnB Asset Management AS bought a new stake in shares of Nuance Communications during the first quarter valued at approximately $322,000. Hedge funds and other institutional investors own 85.99% of the company’s stock.

Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

Nuance Communications, Inc. (NASDAQ NUAN) traded down 0.786% during mid-day trading on Tuesday, hitting $18.295. 1,344,847 shares of the stock were exchanged. Nuance Communications, Inc. has a 1-year low of $13.44 and a 1-year high of $19.93. The stock has a 50 day moving average price of $18.66 and a 200 day moving average price of $16.93. The company’s market capitalization is $5.26 billion.

Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. Nuance Communications had a positive return on equity of 15.76% and a negative net margin of 2.57%. The firm had revenue of $511.10 million for the quarter, compared to analyst estimates of $506.83 million. During the same period in the previous year, the company earned $0.38 earnings per share. Nuance Communications’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Nuance Communications, Inc. will post $1.18 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “King Luther Capital Management Corp Invests $346,000 in Nuance Communications, Inc. (NUAN)” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/2656177/king-luther-capital-management-corp-invests-346000-in-nuance-communications-inc-nuan.html.

Several analysts have commented on NUAN shares. Barclays PLC restated a “buy” rating and set a $22.00 target price on shares of Nuance Communications in a report on Friday, May 12th. Zacks Investment Research downgraded shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 17th. Deutsche Bank AG restated a “buy” rating and set a $25.00 target price on shares of Nuance Communications in a report on Monday, June 12th. Finally, Stifel Nicolaus raised their target price on shares of Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Nuance Communications currently has a consensus rating of “Buy” and an average target price of $22.00.

In other news, VP Adam Bruce Bowden sold 9,131 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $16.75, for a total transaction of $152,944.25. Following the transaction, the vice president now directly owns 192,529 shares of the company’s stock, valued at $3,224,860.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Ricci sold 139,267 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $19.10, for a total value of $2,659,999.70. Following the transaction, the chief executive officer now directly owns 2,090,036 shares in the company, valued at $39,919,687.60. The disclosure for this sale can be found here. Insiders have sold 204,492 shares of company stock worth $3,857,988 over the last ninety days. 1.67% of the stock is owned by insiders.

About Nuance Communications

Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.

Want to see what other hedge funds are holding NUAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nuance Communications, Inc. (NASDAQ:NUAN).

Receive News & Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.