TIAA CREF Investment Management LLC lowered its holdings in Nuance Communications, Inc. (NASDAQ:NUAN) by 41.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 869,143 shares of the software maker’s stock after selling 611,349 shares during the quarter. TIAA CREF Investment Management LLC owned 0.30% of Nuance Communications worth $15,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Clearbridge Investments LLC grew its holdings in Nuance Communications by 1.7% in the 1st quarter. Clearbridge Investments LLC now owns 25,590,805 shares of the software maker’s stock valued at $442,977,000 after buying an additional 430,377 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nuance Communications by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 22,953,274 shares of the software maker’s stock valued at $397,322,000 after buying an additional 1,222,707 shares during the last quarter. Primecap Management Co. CA grew its holdings in Nuance Communications by 0.6% in the 1st quarter. Primecap Management Co. CA now owns 11,901,565 shares of the software maker’s stock valued at $206,016,000 after buying an additional 71,216 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in Nuance Communications by 5.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 4,166,815 shares of the software maker’s stock valued at $77,128,000 after buying an additional 223,993 shares during the last quarter. Finally, Sirios Capital Management L P grew its holdings in Nuance Communications by 13.7% in the 2nd quarter. Sirios Capital Management L P now owns 3,832,085 shares of the software maker’s stock valued at $66,717,000 after buying an additional 462,608 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research firms have issued reports on NUAN. Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 target price on shares of Nuance Communications in a report on Monday, June 12th. Zacks Investment Research lowered Nuance Communications from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a report on Tuesday, July 25th. BidaskClub lowered Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. decreased their price objective on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $20.11.

In other news, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $17.42, for a total value of $130,650.00. Following the transaction, the insider now owns 283,810 shares of the company’s stock, valued at $4,943,970.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 21,500 shares of company stock worth $364,785 in the last ninety days. 1.67% of the stock is owned by company insiders.

Shares of Nuance Communications, Inc. (NASDAQ NUAN) opened at 15.72 on Friday. The stock’s 50 day moving average price is $16.18 and its 200 day moving average price is $17.34. Nuance Communications, Inc. has a one year low of $13.44 and a one year high of $19.93. The firm’s market cap is $4.54 billion.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the 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 firm had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. During the same period in the previous year, the company posted $0.38 EPS. Nuance Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Nuance Communications, Inc. will post $1.00 earnings per share for the current fiscal year.

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)

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