Federated Investors Inc. PA raised its holdings in Nuance Communications Inc. (NASDAQ:NUAN) by 61.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 581,246 shares of the software maker’s stock after acquiring an additional 221,567 shares during the quarter. Federated Investors Inc. PA owned 0.20% of Nuance Communications worth $8,071,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of NUAN. Bristol John W & Co. Inc. NY acquired a new stake in Nuance Communications in the 1st quarter valued at about $138,000. Signition LP acquired a new stake in Nuance Communications in the 1st quarter valued at about $167,000. A.R.T. Advisors LLC acquired a new stake in Nuance Communications in the 1st quarter valued at about $184,000. Engineers Gate Manager LP acquired a new stake in Nuance Communications in the 2nd quarter valued at about $199,000. Finally, FDx Advisors Inc. acquired a new stake in Nuance Communications in the 2nd quarter valued at about $215,000. 88.68% of the stock is owned by institutional investors.
NUAN stock opened at $16.51 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.32. Nuance Communications Inc. has a one year low of $12.18 and a one year high of $18.75. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.81 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 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $495.53 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. sell-side analysts predict that Nuance Communications Inc. will post 0.75 EPS for the current year.
Nuance Communications announced that its board has initiated a share repurchase program on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, August 15th. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. ValuEngine raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Barclays upped their price objective on shares of Nuance Communications from $18.00 to $20.00 and gave the company an “overweight” 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $19.57.
In other Nuance Communications news, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $16.41, for a total transaction of $123,075.00. Following the completion of the sale, the insider now directly owns 347,863 shares of the company’s stock, valued at $5,708,431.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Weideman sold 8,350 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $16.30, for a total transaction of $136,105.00. Following the completion of the sale, the executive vice president now directly owns 428,740 shares of the company’s stock, valued at $6,988,462. The disclosure for this sale can be found here. Insiders have sold 23,350 shares of company stock valued at $381,430 over the last ninety days. Insiders own 1.67% 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.
Further Reading: Growth Stocks
Receive News & Ratings for Nuance Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications and related companies with MarketBeat.com's FREE daily email newsletter.