Lucus Advisors LLC purchased a new stake in shares of Nuance Communications Inc. (NASDAQ:NUAN) during the third quarter, Holdings Channel reports. The fund purchased 27,243 shares of the company’s stock, valued at approximately $395,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of Nuance Communications by 9.9% in the second quarter. Fisher Asset Management LLC now owns 837,386 shares of the company’s stock worth $13,306,000 after buying an additional 75,675 shares during the period. Creative Planning raised its stake in shares of Nuance Communications by 23.1% in the second quarter. Creative Planning now owns 38,383 shares of the company’s stock worth $600,000 after buying an additional 7,199 shares during the period. Alpha Windward LLC purchased a new stake in shares of Nuance Communications during the second quarter worth $388,000. British Columbia Investment Management Corp raised its stake in shares of Nuance Communications by 6.1% in the second quarter. British Columbia Investment Management Corp now owns 258,793 shares of the company’s stock worth $4,045,000 after buying an additional 14,962 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Nuance Communications by 6.0% in the second quarter. BNP Paribas Arbitrage SA now owns 8,214 shares of the company’s stock worth $128,000 after buying an additional 464 shares during the period. Institutional investors and hedge funds own 86.49% of the company’s stock.
Shares of Nuance Communications Inc. (NASDAQ:NUAN) traded down 0.12% on Friday, reaching $16.84. The company had a trading volume of 1,017,872 shares. The firm’s market capitalization is $4.77 billion. The firm has a 50-day moving average price of $14.45 and a 200 day moving average price of $15.30. Nuance Communications Inc. has a 1-year low of $13.44 and a 1-year high of $21.83.
Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Thursday, November 17th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. Nuance Communications had a negative net margin of 0.63% and a positive return on equity of 14.89%. The company earned $512.40 million during the quarter, compared to the consensus estimate of $505.10 million. During the same period last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts predict that Nuance Communications Inc. will post $1.51 earnings per share for the current year.
Several research firms have recently commented on NUAN. Deutsche Bank AG reduced their price target on Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Zacks Investment Research raised Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Raymond James Financial Inc. raised Nuance Communications from an “outperform” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research report on Friday, November 18th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $26.00 price target on shares of Nuance Communications in a research report on Monday. Finally, Canaccord Genuity reissued a “buy” rating on shares of Nuance Communications in a research report on Friday, November 18th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $22.56.
In other news, VP Adam Bruce Bowden sold 4,000 shares of Nuance Communications stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $13.96, for a total transaction of $55,840.00. Following the completion of the sale, the vice president now directly owns 170,195 shares in the company, valued at approximately $2,375,922.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Katherine A. Martin sold 10,000 shares of Nuance Communications stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $16.52, for a total transaction of $165,200.00. Following the sale, the director now owns 120,900 shares of the company’s stock, valued at $1,997,268. The disclosure for this sale can be found here. Insiders own 2.23% of the company’s stock.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare; Mobile and Consumer; Enterprise, and Imaging. The Company offers its customers solutions in automated speech recognition; capabilities for natural language understanding; dialog and information management; biometric speaker authentication; text-to-speech; optical character recognition (OCR) capabilities, and domain knowledge, along with professional services and implementation support.
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