Legal & General Group Plc raised its holdings in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,303,336 shares of the software maker’s stock after buying an additional 115,718 shares during the period. Legal & General Group Plc owned about 0.45% of Nuance Communications worth $20,488,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Koch Industries Inc. acquired a new position in shares of Nuance Communications during the second quarter worth $523,000. Rhumbline Advisers lifted its position in shares of Nuance Communications by 5.3% during the second quarter. Rhumbline Advisers now owns 268,222 shares of the software maker’s stock worth $4,670,000 after purchasing an additional 13,453 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Nuance Communications by 9.9% during the second quarter. Pacer Advisors Inc. now owns 52,116 shares of the software maker’s stock worth $907,000 after purchasing an additional 4,678 shares in the last quarter. Mcrae Capital Management Inc. lifted its position in shares of Nuance Communications by 2.1% during the third quarter. Mcrae Capital Management Inc. now owns 330,250 shares of the software maker’s stock worth $5,192,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Aviva PLC lifted its position in shares of Nuance Communications by 20.2% during the second quarter. Aviva PLC now owns 175,793 shares of the software maker’s stock worth $3,062,000 after purchasing an additional 29,540 shares in the last quarter. 85.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nuance Communications, Inc. (NASDAQ NUAN) opened at $15.60 on Friday. The stock has a market cap of $4,502.22, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.60 and a beta of 0.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Nuance Communications, Inc. has a twelve month low of $14.02 and a twelve month high of $19.93.

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

In related news, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $16.00, for a total value of $74,912.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction 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 directly owns 258,188 shares in the company, valued at $4,022,569.04. The disclosure for this sale can be found here. Insiders sold 15,864 shares of company stock worth $243,603 over the last ninety days. 1.67% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on the stock. Morgan Stanley reissued a “buy” rating and set a $18.00 target price on shares of Nuance Communications in a research report on Wednesday, November 22nd. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. TheStreet cut shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Oppenheimer reissued a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a research report on Wednesday, November 29th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $18.00 target price (down from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $20.50.

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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.

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

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