Sumitomo Mitsui Asset Management Company LTD trimmed its stake in Nuance Communications Inc. (NASDAQ:NUAN) by 15.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 268,355 shares of the software maker’s stock after selling 49,420 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Nuance Communications were worth $4,543,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Investors Research Corp lifted its stake in Nuance Communications by 2.5% in the fourth quarter. Investors Research Corp now owns 28,350 shares of the software maker’s stock valued at $375,000 after buying an additional 700 shares during the last quarter. FDx Advisors Inc. lifted its stake in Nuance Communications by 4.8% in the fourth quarter. FDx Advisors Inc. now owns 16,403 shares of the software maker’s stock valued at $217,000 after buying an additional 758 shares during the last quarter. Wrapmanager Inc. lifted its stake in Nuance Communications by 3.2% in the first quarter. Wrapmanager Inc. now owns 27,193 shares of the software maker’s stock valued at $460,000 after buying an additional 848 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Nuance Communications by 0.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 113,706 shares of the software maker’s stock valued at $1,504,000 after buying an additional 905 shares during the last quarter. Finally, Strs Ohio lifted its stake in Nuance Communications by 4.1% in the first quarter. Strs Ohio now owns 23,881 shares of the software maker’s stock valued at $404,000 after buying an additional 939 shares during the last quarter. Institutional investors own 88.27% of the company’s stock.
Shares of NASDAQ NUAN traded up $0.06 during midday trading on Friday, reaching $18.03. 33,518 shares of the company traded hands, compared to its average volume of 1,939,316. Nuance Communications Inc. has a 52 week low of $12.66 and a 52 week high of $18.16. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The stock has a market cap of $5.18 billion, a P/E ratio of 22.27, a P/E/G ratio of 4.45 and a beta of 1.16.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. The company had revenue of $451.00 million for the quarter, compared to the consensus estimate of $449.90 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Nuance Communications’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Nuance Communications Inc. will post 0.8 earnings per share for the current fiscal year.
In related news, insider Arthur G. Giterman sold 3,120 shares of Nuance Communications stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $16.55, for a total transaction of $51,636.00. Following the sale, the insider now directly owns 80,022 shares in the company, valued at $1,324,364.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel David Tempesta sold 26,700 shares of Nuance Communications stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $16.32, for a total transaction of $435,744.00. Following the sale, the executive vice president now owns 506,102 shares in the company, valued at $8,259,584.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,761 shares of company stock worth $1,793,479. Company insiders own 0.68% of the company’s stock.
NUAN has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Thursday, April 4th. ValuEngine upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Wedbush restated a “buy” rating and set a $22.00 price objective on shares of Nuance Communications in a research note on Friday, February 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Nuance Communications has a consensus rating of “Buy” and a consensus target price of $19.20.
Nuance Communications Company Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; 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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