King Luther Capital Management Corp lessened its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 22.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,500 shares of the software maker’s stock after selling 4,500 shares during the period. King Luther Capital Management Corp’s holdings in Nuance Communications were worth $270,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. Bridgewater Associates LP purchased a new stake in Nuance Communications during the second quarter valued at about $1,270,000. Ameriprise Financial Inc. grew its position in Nuance Communications by 15.6% during the second quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock valued at $306,763,000 after acquiring an additional 2,383,671 shares during the period. Seven Eight Capital LP grew its position in Nuance Communications by 188.8% during the second quarter. Seven Eight Capital LP now owns 56,900 shares of the software maker’s stock valued at $991,000 after acquiring an additional 37,200 shares during the period. Martingale Asset Management L P grew its position in Nuance Communications by 3.8% during the second quarter. Martingale Asset Management L P now owns 192,104 shares of the software maker’s stock valued at $3,345,000 after acquiring an additional 7,100 shares during the period. Finally, Commonwealth Bank of Australia grew its position in Nuance Communications by 29.6% during the second quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock valued at $121,000 after acquiring an additional 1,600 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Nuance Communications, Inc. (NASDAQ:NUAN) opened at 16.00 on Thursday. The stock has a 50 day moving average price of $16.18 and a 200 day moving average price of $17.34. Nuance Communications, Inc. has a 12 month low of $13.44 and a 12 month high of $19.93. The stock’s market cap is $4.62 billion.
Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.09). Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The company had revenue of $495.60 million for the quarter, compared to the consensus estimate of $495.57 million. During the same quarter last year, the business earned $0.38 earnings per share. Nuance Communications’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Nuance Communications, Inc. will post $1.00 EPS for the current fiscal year.
A number of equities research analysts have issued reports on NUAN shares. Zacks Investment Research raised Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub downgraded Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a research report on Monday, June 12th. Barclays PLC lowered their price target on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 9th. Finally, Canaccord Genuity decreased their target price on Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Nuance Communications has a consensus rating of “Hold” and an average target price of $20.11.
In other Nuance Communications news, insider Daniel David Tempesta sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $17.42, for a total transaction of $130,650.00. Following the transaction, the insider now directly owns 283,810 shares in the company, valued at $4,943,970.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 21,500 shares of company stock worth $364,785. Corporate insiders own 1.67% of the company’s stock.
Nuance Communications Profile
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.
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