Highbridge Capital Management LLC lowered its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 33.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,185,935 shares of the software maker’s stock after selling 592,921 shares during the period. Highbridge Capital Management LLC’s holdings in Nuance Communications were worth $20,528,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in shares of Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock valued at $118,000 after buying an additional 1,100 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock valued at $143,000 after buying an additional 400 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Nuance Communications during the first quarter valued at $180,000. Raymond James Trust N.A. bought a new stake in shares of Nuance Communications during the first quarter valued at $185,000. Finally, Comerica Bank bought a new stake in shares of Nuance Communications during the fourth quarter valued at $194,000. Hedge funds and other institutional investors own 85.98% of the company’s stock.
Nuance Communications, Inc. (NASDAQ NUAN) traded down 0.33% on Friday, hitting $18.20. 2,304,242 shares of the company traded hands. Nuance Communications, Inc. has a 1-year low of $13.44 and a 1-year high of $19.93. The firm’s 50 day moving average price is $18.63 and its 200 day moving average price is $16.89. The firm’s market capitalization is $5.24 billion.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. Nuance Communications had a positive return on equity of 15.76% and a negative net margin of 2.57%. The business had revenue of $511.10 million during the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts predict that Nuance Communications, Inc. will post $1.18 EPS for the current fiscal year.
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NUAN has been the topic of several analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $25.00 price target on shares of Nuance Communications in a research report on Monday. Barclays PLC reiterated a “buy” rating and set a $22.00 price target on shares of Nuance Communications in a research report on Friday, May 12th. Stifel Nicolaus upped their price target on Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded Nuance Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nuance Communications currently has a consensus rating of “Buy” and an average price target of $22.00.
In other Nuance Communications news, insider Daniel David Tempesta sold 8,500 shares of Nuance Communications stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $18.61, for a total value of $158,185.00. Following the sale, the insider now owns 286,810 shares of the company’s stock, valued at approximately $5,337,534.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul Ricci sold 139,267 shares of Nuance Communications stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $19.10, for a total value of $2,659,999.70. Following the completion of the sale, the chief executive officer now directly owns 2,090,036 shares in the company, valued at approximately $39,919,687.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,492 shares of company stock worth $3,857,988. Corporate insiders own 1.67% of the company’s stock.
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.
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