Nuance Communications Inc. (NUAN) Position Lifted by Swiss National Bank

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Swiss National Bank increased its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 511,300 shares of the software maker’s stock after acquiring an additional 8,500 shares during the quarter. Swiss National Bank owned about 0.17% of Nuance Communications worth $7,099,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NUAN. Bristol John W & Co. Inc. NY bought a new position in Nuance Communications during the 1st quarter worth approximately $138,000. Signition LP bought a new position in Nuance Communications during the 1st quarter worth approximately $167,000. A.R.T. Advisors LLC bought a new position in Nuance Communications during the 1st quarter worth approximately $184,000. Engineers Gate Manager LP bought a new position in Nuance Communications during the 2nd quarter worth approximately $199,000. Finally, FDx Advisors Inc. bought a new position in Nuance Communications in the second quarter valued at approximately $215,000. 88.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of NUAN opened at $16.20 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.35 and a current ratio of 1.35. Nuance Communications Inc. has a twelve month low of $12.18 and a twelve month high of $18.75. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 1.79 and a beta of 0.74.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Wednesday, August 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. Nuance Communications had a negative net margin of 9.55% and a positive return on equity of 9.67%. The company had revenue of $502.89 million for the quarter, compared to the consensus estimate of $495.53 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. analysts anticipate that Nuance Communications Inc. will post 0.75 earnings per share for the current year.

Nuance Communications announced that its board has initiated a share buyback 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 purchase 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.

In other news, insider Daniel David Tempesta sold 7,500 shares of Nuance Communications stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $16.41, for a total value of $123,075.00. Following the sale, the insider now directly owns 347,863 shares in the company, valued at $5,708,431.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.67% of the stock is owned by company insiders.

A number of research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Nuance Communications from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, August 9th. BidaskClub raised shares of Nuance Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 23rd. Zacks Investment Research lowered shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, May 16th. ValuEngine raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, Standpoint Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.57.

About Nuance Communications

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.

Further Reading: Leveraged Buyout (LBO)

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

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