Nuance Communications Inc. (NUAN) Position Lessened by HBK Investments L P
HBK Investments L P lowered its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 8.9% in the fourth quarter, HoldingsChannel reports. The firm owned 465,470 shares of the software maker’s stock after selling 45,537 shares during the period. HBK Investments L P’s holdings in Nuance Communications were worth $7,610,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of NUAN. SG Americas Securities LLC acquired a new stake in Nuance Communications in the 3rd quarter valued at about $149,000. ETRADE Capital Management LLC acquired a new stake in Nuance Communications in the 3rd quarter valued at about $172,000. CIBC World Markets Inc. acquired a new stake in Nuance Communications in the 4th quarter valued at about $176,000. The Manufacturers Life Insurance Company increased its position in Nuance Communications by 8.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock valued at $178,000 after acquiring an additional 809 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new stake in Nuance Communications in the 3rd quarter valued at about $184,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.
Several equities research analysts have weighed in on NUAN shares. TheStreet cut shares of Nuance Communications from a “c” rating to a “d+” rating in a research report on Tuesday, November 28th. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, December 5th. Morgan Stanley restated a “buy” rating and issued a $18.00 price objective on shares of Nuance Communications in a research report on Wednesday, November 22nd. Stifel Nicolaus restated a “hold” rating and issued a $18.00 price objective (down previously from $19.00) on shares of Nuance Communications in a research report on Wednesday, November 29th. Finally, Oppenheimer restated a “buy” rating and issued a $23.00 price objective on shares of Nuance Communications in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $20.50.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Thursday, February 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $508.80 million for the quarter, compared to analyst estimates of $508.55 million. Nuance Communications had a negative net margin of 3.76% and a positive return on equity of 11.62%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. sell-side analysts expect that Nuance Communications Inc. will post 0.83 earnings per share for the current fiscal year.
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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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