Prudential Financial Inc. lessened its holdings in Nuance Communications, Inc. (NASDAQ:NUAN) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,280 shares of the software maker’s stock after selling 7,890 shares during the quarter. Prudential Financial Inc.’s holdings in Nuance Communications were worth $900,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of Nuance Communications in the 2nd quarter worth about $103,000. Commonwealth Bank of Australia lifted its position in 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 buying an additional 1,600 shares in the last quarter. Exane Derivatives lifted its position in Nuance Communications by 250.3% during the 3rd quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock worth $130,000 after buying an additional 5,912 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in 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 buying an additional 1,600 shares in the last quarter. Finally, Concorde Asset Management LLC acquired a new position in Nuance Communications during the 3rd quarter worth about $159,000. 85.56% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $14.40, for a total value of $67,420.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $15.58, for a total transaction of $101,270.00. Following the completion of the sale, the insider now owns 258,188 shares in the company, valued at $4,022,569.04. The disclosure for this sale can be found here. Insiders sold a total of 15,864 shares of company stock worth $243,603 over the last quarter. 1.67% of the stock is currently owned by corporate insiders.

Shares of Nuance Communications, Inc. (NUAN) opened at $15.60 on Friday. The firm has a market cap of $4,496.41, a P/E ratio of 19.36, a P/E/G ratio of 1.60 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 1.19. Nuance Communications, Inc. has a 52-week low of $14.02 and a 52-week high of $19.93.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, November 28th. The software maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $474.70 million for the quarter, compared to the consensus estimate of $457.09 million. Nuance Communications had a negative net margin of 7.75% and a positive return on equity of 12.15%. Nuance Communications’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. research analysts predict that Nuance Communications, Inc. will post 0.81 earnings per share for the current fiscal year.

Several research analysts recently issued reports on NUAN shares. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday. Oppenheimer reiterated a “buy” rating and set a $23.00 price target on shares of Nuance Communications in a research report on Wednesday, November 29th. Morgan Stanley reiterated a “buy” rating and set a $18.00 price target on shares of Nuance Communications in a research report on Wednesday, November 22nd. TheStreet downgraded shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $18.00 price target (down previously from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.50.

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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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