Barings LLC Continues to Hold Stake in Nuance Communications, Inc. (NASDAQ:NUAN)
Barings LLC held its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,000 shares of the software maker’s stock at the end of the first quarter. Barings LLC’s holdings in Nuance Communications were worth $485,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of NUAN. BNP Paribas Arbitrage SA boosted its stake in shares of Nuance Communications by 414.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,767 shares of the software maker’s stock worth $602,000 after buying an additional 28,003 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in 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 boosted its stake in 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 Nuance Communications during the first quarter valued at approximately $1,071,000. Finally, Comerica Bank bought a new stake in Nuance Communications during the fourth quarter valued at approximately $194,000. Institutional investors own 85.38% of the company’s stock.
Shares of Nuance Communications, Inc. (NUAN) traded up 0.90% during mid-day trading on Friday, reaching $16.85. The company’s stock had a trading volume of 1,019,709 shares. The firm’s 50 day moving average is $17.73 and its 200-day moving average is $17.41. The company’s market capitalization is $4.85 billion. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The company had revenue of $511.10 million during the quarter, compared to the consensus estimate of $506.83 million. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. Nuance Communications’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. Analysts forecast that Nuance Communications, Inc. will post $1.10 EPS for the current year.
NUAN has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a research note on Monday, June 12th. Barclays PLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Nuance Communications in a research report on Friday, May 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 price objective (down previously from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Stifel Nicolaus increased their price objective on Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Finally, Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.89.
In other Nuance Communications news, CEO Paul Ricci sold 139,267 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total transaction of $2,659,999.70. Following the completion of the sale, the chief executive officer now directly owns 2,090,036 shares in the company, valued at $39,919,687.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth M. Siegel sold 3,664 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $19.05, for a total transaction of $69,799.20. Following the sale, the executive vice president now owns 70,824 shares of the company’s stock, valued at $1,349,197.20. The disclosure for this sale can be found here. Insiders sold a total of 205,861 shares of company stock valued at $3,886,873 in the last 90 days. 1.67% of the stock is owned by corporate 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.
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