Wedge Capital Management L L P NC Has $590,000 Position in Nuance Communications, Inc. (NUAN)

Wedge Capital Management L L P NC decreased its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 14.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,909 shares of the software maker’s stock after selling 5,765 shares during the period. Wedge Capital Management L L P NC’s holdings in Nuance Communications were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Trust N.A. purchased a new position in shares of Nuance Communications during the first quarter worth about $185,000. Bank of Montreal Can boosted its position in shares of Nuance Communications by 2,147.4% in the first quarter. Bank of Montreal Can now owns 684,206 shares of the software maker’s stock worth $11,845,000 after buying an additional 653,762 shares in the last quarter. DnB Asset Management AS purchased a new position in shares of Nuance Communications during the first quarter worth about $322,000. Fisher Asset Management LLC boosted its position in shares of Nuance Communications by 21.1% in the first quarter. Fisher Asset Management LLC now owns 1,029,111 shares of the software maker’s stock worth $17,814,000 after buying an additional 179,547 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in shares of Nuance Communications during the first quarter worth about $19,122,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Nuance Communications, Inc. (NUAN) opened at 15.70 on Friday. Nuance Communications, Inc. has a 52 week low of $13.44 and a 52 week high of $19.93. The firm has a 50-day moving average of $17.01 and a 200-day moving average of $17.44. The company’s market cap is $4.53 billion.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Tuesday, August 8th. The software maker reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.09. Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The firm had revenue of $495.60 million during the quarter, compared to the consensus estimate of $495.57 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Nuance Communications, Inc. will post $1.00 earnings per share for the current year.

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A number of research analysts recently issued reports on NUAN shares. Stifel Nicolaus boosted their price objective on shares of Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, May 10th. Barclays PLC restated a “buy” rating and set a $22.00 price objective on shares of Nuance Communications in a report on Friday, May 12th. Zacks Investment Research cut shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 17th. Deutsche Bank AG restated a “buy” rating and set a $25.00 price objective on shares of Nuance Communications in a report on Monday, June 12th. Finally, BidaskClub cut shares of Nuance Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.11.

In related news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $18.80, for a total value of $141,000.00. Following the sale, the insider now directly owns 295,310 shares in the company, valued at approximately $5,551,828. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Ricci sold 139,267 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $19.10, for a total value of $2,659,999.70. Following the completion of the sale, the chief executive officer now owns 2,090,036 shares in the company, valued at $39,919,687.60. The disclosure for this sale can be found here. Insiders sold a total of 171,267 shares of company stock worth $3,239,095 over the last 90 days. 1.67% of the stock is currently owned by company insiders.

About Nuance Communications

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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