Victory Capital Management Inc. boosted its position in Nuance Communications Inc. (NASDAQ:NUAN) by 3.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,181,051 shares of the software maker’s stock after acquiring an additional 481,214 shares during the quarter. Nuance Communications makes up approximately 0.5% of Victory Capital Management Inc.’s investment portfolio, making the stock its 24th largest holding. Victory Capital Management Inc. owned 0.05% of Nuance Communications worth $200,845,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Intercontinental Wealth Advisors LLC acquired a new position in Nuance Communications during the fourth quarter valued at approximately $36,000. TRUE Private Wealth Advisors bought a new position in Nuance Communications during the 3rd quarter worth approximately $106,000. Sigma Planning Corp bought a new position in Nuance Communications during the 4th quarter worth approximately $138,000. Oakbrook Investments LLC bought a new position in Nuance Communications during the 4th quarter worth approximately $153,000. Finally, Sapphire Star Partners LP bought a new position in Nuance Communications during the 3rd quarter worth approximately $156,000. Institutional investors and hedge funds own 87.71% of the company’s stock.
In other news, insider Alvaro Monserrat sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $16.05, for a total transaction of $321,000.00. Following the completion of the sale, the insider now owns 217,743 shares of the company’s stock, valued at approximately $3,494,775.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Weideman sold 4,000 shares of Nuance Communications stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $15.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now directly owns 522,878 shares of the company’s stock, valued at approximately $7,843,170. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,912 shares of company stock valued at $874,062. Insiders own 0.68% of the company’s stock.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Thursday, February 7th. The software maker reported $0.24 EPS for the quarter, topping the consensus estimate of $0.17 by $0.07. The company had revenue of $493.65 million during the quarter, compared to the consensus estimate of $504.85 million. Nuance Communications had a negative net margin of 9.50% and a positive return on equity of 13.88%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Analysts anticipate that Nuance Communications Inc. will post 0.72 earnings per share for the current year.
Several research firms have issued reports on NUAN. Wedbush restated a “buy” rating and set a $22.00 price target on shares of Nuance Communications in a report on Friday. BidaskClub upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Wednesday, January 30th. Morgan Stanley downgraded shares of Nuance Communications from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $19.00 to $17.00 in a research report on Tuesday, January 15th. Finally, ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Nuance Communications currently has an average rating of “Buy” and a consensus target price of $18.33.
About Nuance Communications
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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