Segall Bryant & Hamill LLC lifted its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 50.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 749,400 shares of the software maker’s stock after purchasing an additional 250,255 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Nuance Communications were worth $10,405,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Nuance Communications by 27.1% during the second quarter. Victory Capital Management Inc. now owns 13,050,497 shares of the software maker’s stock worth $181,205,000 after buying an additional 2,782,984 shares during the period. FIL Ltd boosted its position in shares of Nuance Communications by 5.6% during the first quarter. FIL Ltd now owns 4,609,355 shares of the software maker’s stock worth $72,597,000 after buying an additional 243,866 shares during the period. Jericho Capital Asset Management L.P. acquired a new position in shares of Nuance Communications during the first quarter worth about $50,579,000. Criterion Capital Management LLC acquired a new position in Nuance Communications during the first quarter valued at approximately $42,208,000. Finally, 12th Street Asset Management Company LLC boosted its position in Nuance Communications by 23.6% during the first quarter. 12th Street Asset Management Company LLC now owns 2,391,602 shares of the software maker’s stock valued at $37,668,000 after purchasing an additional 457,414 shares during the last quarter. 83.88% of the stock is owned by institutional investors.
Shares of NASDAQ NUAN opened at $16.68 on Monday. Nuance Communications Inc. has a 52 week low of $12.18 and a 52 week high of $18.75. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.32. The company has a market cap of $4.83 billion, a P/E ratio of 27.80, a P/E/G ratio of 2.00 and a beta of 0.66.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Wednesday, August 8th. The software maker reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Nuance Communications had a positive return on equity of 9.67% and a negative net margin of 9.55%. The firm had revenue of $502.89 million during the quarter, compared to analysts’ expectations of $495.53 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. equities research analysts anticipate that Nuance Communications Inc. will post 0.7 EPS for the current year.
Nuance Communications announced that its board has initiated a stock repurchase plan on Wednesday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire up to 10.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
NUAN has been the subject of several recent research reports. ValuEngine cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. BidaskClub raised Nuance Communications from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 8th. Stifel Nicolaus reissued a “hold” rating and set a $15.00 price target (down from $18.00) on shares of Nuance Communications in a research report on Thursday, May 10th. Craig Hallum reduced their price target on Nuance Communications from $24.00 to $17.00 and set an “in-line” rating for the company in a research report on Thursday, May 10th. Finally, Zacks Investment Research cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Nuance Communications presently has a consensus rating of “Buy” and an average target price of $19.57.
In related news, Director Mark R. Laret sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $13.98, for a total transaction of $209,700.00. Following the completion of the transaction, the director now directly owns 79,047 shares of the company’s stock, valued at $1,105,077.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.24% of the company’s stock.
Nuance Communications Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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