Rockefeller Capital Management L.P. purchased a new position in Nuance Communications Inc. (NASDAQ:NUAN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,433 shares of the software maker’s stock, valued at approximately $143,000.
Other institutional investors have also bought and sold shares of the company. Sawtooth Solutions LLC purchased a new stake in Nuance Communications in the first quarter worth about $187,000. Argent Capital Management LLC grew its holdings in Nuance Communications by 116.8% in the first quarter. Argent Capital Management LLC now owns 34,072 shares of the software maker’s stock worth $577,000 after purchasing an additional 18,357 shares during the period. Federated Investors Inc. PA grew its holdings in Nuance Communications by 75.6% in the first quarter. Federated Investors Inc. PA now owns 622,860 shares of the software maker’s stock worth $10,546,000 after purchasing an additional 268,251 shares during the period. Swiss National Bank grew its holdings in Nuance Communications by 3.4% in the first quarter. Swiss National Bank now owns 524,100 shares of the software maker’s stock worth $8,873,000 after purchasing an additional 17,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Nuance Communications by 25.1% in the first 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 during the period. 87.84% of the stock is owned by institutional investors and hedge funds.
NUAN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. BidaskClub raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Wedbush reaffirmed a “buy” rating and set a $22.00 target price on shares of Nuance Communications in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.20.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data 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 firm had revenue of $451.00 million during the quarter, compared to analysts’ expectations of $449.90 million. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Nuance Communications Inc. will post 0.8 earnings per share for the current fiscal year.
In other news, EVP Thomas L. Beaudoin sold 8,301 shares of Nuance Communications stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $17.00, for a total value of $141,117.00. Following the transaction, the executive vice president now owns 309,921 shares of the company’s stock, valued at approximately $5,268,657. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark D. Benjamin sold 45,396 shares of Nuance Communications stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $17.40, for a total transaction of $789,890.40. Following the completion of the sale, the chief executive officer now owns 629,430 shares of the company’s stock, valued at $10,952,082. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,633 shares of company stock worth $2,190,280. Insiders own 0.68% of the company’s stock.
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Nuance Communications Profile
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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