Bank of Montreal Can raised its stake in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 40.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 962,622 shares of the software maker’s stock after buying an additional 278,416 shares during the period. Bank of Montreal Can owned about 0.33% of Nuance Communications worth $16,760,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in NUAN. Clearbridge Investments LLC increased its stake in Nuance Communications by 1.7% in the first quarter. Clearbridge Investments LLC now owns 25,590,805 shares of the software maker’s stock worth $442,977,000 after buying an additional 430,377 shares in the last quarter. Vanguard Group Inc. increased its stake in Nuance Communications by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,953,274 shares of the software maker’s stock worth $397,322,000 after buying an additional 1,222,707 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Nuance Communications by 0.6% in the first quarter. Primecap Management Co. CA now owns 11,901,565 shares of the software maker’s stock worth $206,016,000 after buying an additional 71,216 shares during the last quarter. FIL Ltd boosted its position in shares of Nuance Communications by 8.0% in the first quarter. FIL Ltd now owns 9,240,823 shares of the software maker’s stock worth $159,959,000 after buying an additional 680,563 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Nuance Communications by 2.0% in the first quarter. Neuberger Berman Group LLC now owns 4,750,025 shares of the software maker’s stock worth $82,223,000 after buying an additional 94,472 shares during the last quarter. 85.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nuance Communications, Inc. (NUAN) opened at 16.85 on Monday. The stock has a 50 day moving average price of $17.73 and a 200 day moving average price of $17.41. Nuance Communications, Inc. has a 1-year low of $13.44 and a 1-year high of $19.93. The company’s market capitalization is $4.85 billion.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. Nuance Communications had a negative net margin of 2.57% and a positive return on equity of 15.76%. The business had revenue of $511.10 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same period last year, the business earned $0.38 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Nuance Communications, Inc. will post $1.10 earnings per share for the current year.
A number of research analysts have recently weighed in on NUAN shares. Deutsche Bank AG restated a “buy” rating and issued a $25.00 target price on shares of Nuance Communications in a research note on Monday, June 12th. Zacks Investment Research raised Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Stifel Nicolaus boosted their price target on Nuance Communications from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, May 10th. BidaskClub cut Nuance Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Nuance Communications in a research report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.89.
In related news, VP Adam Bruce Bowden sold 5,930 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $18.15, for a total transaction of $107,629.50. Following the completion of the sale, the vice president now directly owns 203,286 shares in the company, valued at $3,689,640.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $17.36, for a total transaction of $130,200.00. Following the sale, the insider now owns 270,810 shares of the company’s stock, valued at $4,701,261.60. The disclosure for this sale can be found here. Insiders sold 205,861 shares of company stock valued at $3,886,873 over the last ninety days. Corporate insiders own 1.67% of the company’s stock.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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