Cornerstone Capital Management Holdings LLC. trimmed its holdings in Nuance Communications Inc. (NASDAQ:NUAN) by 39.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,773 shares of the software maker’s stock after selling 328,438 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.17% of Nuance Communications worth $7,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Nuance Communications by 1.5% during the second quarter. Vanguard Group Inc. now owns 23,288,701 shares of the software maker’s stock worth $405,455,000 after purchasing an additional 335,427 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Nuance Communications by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 18,257,115 shares of the software maker’s stock worth $286,977,000 after purchasing an additional 637,014 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Nuance Communications by 29.4% during the third quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock worth $84,746,000 after purchasing an additional 1,224,085 shares during the period. Sirios Capital Management L P increased its stake in shares of Nuance Communications by 30.9% during the third quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock worth $78,838,000 after purchasing an additional 1,183,013 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Nuance Communications by 19.1% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,415,282 shares of the software maker’s stock worth $53,688,000 after purchasing an additional 548,875 shares during the period. 85.06% of the stock is owned by institutional investors.

In other Nuance Communications news, EVP Kenneth M. Siegel sold 4,682 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $16.00, for a total transaction of $74,912.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel David Tempesta sold 6,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $15.58, for a total value of $101,270.00. Following the transaction, the insider now owns 258,188 shares in the company, valued at approximately $4,022,569.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,864 shares of company stock worth $243,603. Corporate insiders own 1.67% of the company’s stock.

Nuance Communications Inc. (NASDAQ:NUAN) opened at $16.60 on Thursday. Nuance Communications Inc. has a 52 week low of $14.02 and a 52 week high of $19.93. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market capitalization of $4,757.66, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.60.

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

NUAN has been the topic of a number of recent research reports. Morgan Stanley upgraded Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 target price on the stock in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. TheStreet lowered Nuance Communications from a “c” rating to a “d+” rating in a research note on Tuesday, November 28th. Oppenheimer reiterated a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a research note on Wednesday, November 29th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $18.00 target price (down previously from $19.00) on shares of Nuance Communications in a research note on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nuance Communications presently has an average rating of “Buy” and an average target price 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.

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

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