CNH Partners LLC Purchases Shares of 181,559 Nuance Communications, Inc. (NUAN)
CNH Partners LLC purchased a new stake in Nuance Communications, Inc. (NASDAQ:NUAN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 181,559 shares of the software maker’s stock, valued at approximately $3,161,000. CNH Partners LLC owned about 0.06% of Nuance Communications as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Commonwealth Bank of Australia boosted its stake in shares of Nuance Communications by 29.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after acquiring an additional 1,600 shares in the last quarter. Ledyard National Bank boosted its stake in shares of Nuance Communications by 4.8% during the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after acquiring an additional 330 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Nuance Communications by 23.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock worth $146,000 after acquiring an additional 1,600 shares in the last quarter. World Asset Management Inc purchased a new stake in shares of Nuance Communications during the 1st quarter worth about $180,000. Finally, Westover Capital Advisors LLC purchased a new stake in shares of Nuance Communications during the 1st quarter worth about $185,000. 84.29% of the stock is currently owned by institutional investors.
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NUAN has been the topic of several recent analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $25.00 target price on shares of Nuance Communications in a research note on Monday, June 12th. BidaskClub lowered shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of Nuance Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and set a $18.00 target price (down from $19.00) on shares of Nuance Communications in a research note on Tuesday, July 25th. Finally, Canaccord Genuity lowered their target price on shares of 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Nuance Communications currently has an average rating of “Hold” and an average target price of $20.38.
Shares of Nuance Communications, Inc. (NASDAQ:NUAN) traded down 0.469% on Monday, reaching $15.925. 199,254 shares of the company were exchanged. Nuance Communications, Inc. has a 52-week low of $13.44 and a 52-week high of $19.93. The stock has a 50 day moving average of $15.90 and a 200-day moving average of $17.23. The company’s market capitalization is $4.60 billion.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The company had revenue of $495.60 million for the quarter, compared to analysts’ expectations of $495.57 million. Nuance Communications had a positive return on equity of 14.73% and a negative net margin of 3.38%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts predict that Nuance Communications, Inc. will post $1.00 EPS for the current fiscal year.
In related news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $17.36, for a total transaction of $130,200.00. Following the sale, the insider now owns 270,810 shares of the company’s stock, valued at $4,701,261.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 20,500 shares of company stock worth $335,405. 1.67% of the stock is owned by 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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