Primecap Management Co. CA Has $154.20 Million Stake in Nuance Communications Inc. (NASDAQ:NUAN)

Primecap Management Co. CA lessened its position in Nuance Communications Inc. (NASDAQ:NUAN) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,108,098 shares of the software maker’s stock after selling 74,900 shares during the period. Primecap Management Co. CA’s holdings in Nuance Communications were worth $154,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bremer Trust National Association bought a new stake in shares of Nuance Communications in the 4th quarter valued at about $26,000. Robeco Institutional Asset Management B.V. boosted its stake in Nuance Communications by 81.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,129 shares of the software maker’s stock worth $28,000 after purchasing an additional 956 shares in the last quarter. Bremer Bank National Association acquired a new stake in Nuance Communications in the 1st quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. boosted its stake in Nuance Communications by 25.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock worth $53,000 after purchasing an additional 628 shares in the last quarter. Finally, Enlightenment Research LLC acquired a new stake in Nuance Communications in the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

NUAN traded down $0.17 during trading on Friday, reaching $16.85. 151,533 shares of the company’s stock were exchanged, compared to its average volume of 1,659,189. Nuance Communications Inc. has a 1 year low of $12.66 and a 1 year high of $18.16. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $4.99 billion, a PE ratio of 20.80, a P/E/G ratio of 4.32 and a beta of 1.05.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Nuance Communications had a return on equity of 14.00% and a net margin of 2.44%. The business had revenue of $451.00 million for the quarter, compared to analysts’ expectations of $449.90 million. During the same period in the prior year, the business posted $0.27 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that Nuance Communications Inc. will post 0.8 EPS for the current fiscal year.

A number of research firms recently commented on NUAN. Zacks Investment Research cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. BidaskClub upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Wedbush reiterated a “buy” rating and issued a $22.00 target price on shares of Nuance Communications in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.20.

In other news, CEO Mark D. Benjamin sold 45,396 shares of Nuance Communications stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $17.40, for a total transaction of $789,890.40. Following the completion of the transaction, the chief executive officer now directly owns 629,430 shares of the company’s stock, valued at approximately $10,952,082. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark R. Laret sold 10,000 shares of Nuance Communications stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $17.37, for a total transaction of $173,700.00. Following the transaction, the director now directly owns 79,945 shares of the company’s stock, valued at $1,388,644.65. The disclosure for this sale can be found here. Insiders have sold a total of 127,633 shares of company stock valued at $2,190,280 over the last three months. 0.68% of the stock is currently owned by insiders.

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

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