Public Employees Retirement Association of Colorado boosted its position in Nuance Communications, Inc. (NASDAQ:NUAN) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,567 shares of the software maker’s stock after buying an additional 1,944 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Nuance Communications were worth $950,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD increased its position in Nuance Communications by 5.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,866,407 shares of the software maker’s stock worth $49,904,000 after buying an additional 144,900 shares during the period. Trellus Management Company LLC increased its position in Nuance Communications by 9.7% in the second quarter. Trellus Management Company LLC now owns 35,000 shares of the software maker’s stock worth $609,000 after buying an additional 3,100 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Nuance Communications during the second quarter worth about $199,000. Farmers & Merchants Investments Inc. increased its position in Nuance Communications by 23.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 147,200 shares of the software maker’s stock worth $2,563,000 after buying an additional 27,780 shares during the period. Finally, Aperio Group LLC increased its position in Nuance Communications by 18.3% in the second quarter. Aperio Group LLC now owns 24,747 shares of the software maker’s stock worth $431,000 after buying an additional 3,827 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Nuance Communications, Inc. (NUAN) opened at 16.22 on Thursday. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93. The company’s 50-day moving average price is $17.13 and its 200 day moving average price is $17.45. The stock’s market capitalization is $4.68 billion.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.09. The company had revenue of $495.60 million during the quarter, compared to analysts’ expectations of $495.57 million. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts predict that Nuance Communications, Inc. will post $1.00 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Public Employees Retirement Association of Colorado Increases Stake in Nuance Communications, Inc. (NUAN)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/08/17/public-employees-retirement-association-of-colorado-increases-stake-in-nuance-communications-inc-nuan.html.

A number of research firms have recently issued reports on NUAN. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $23.00 price target (down from $26.00) on shares of Nuance Communications in a research note on Thursday, August 10th. Barclays PLC dropped their price target on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 9th. Raymond James Financial, Inc. dropped their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 9th. Deutsche Bank AG dropped their price target on Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Finally, Canaccord Genuity dropped their price target on Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.11.

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 value of $2,659,999.70. Following the transaction, the chief executive officer now directly owns 2,090,036 shares of the company’s stock, valued at approximately $39,919,687.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel David Tempesta sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $18.80, for a total transaction of $141,000.00. Following the completion of the transaction, the insider now directly owns 295,310 shares in the company, valued at $5,551,828. The disclosure for this sale can be found here. Insiders sold a total of 171,267 shares of company stock worth $3,239,095 over the last ninety days. 1.67% of the stock is currently owned by corporate insiders.

Nuance Communications Company 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.

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

Receive News & Stock Ratings for Nuance Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications Inc. and related stocks with our FREE daily email newsletter.