Arden Trust Co reduced its stake in Nuance Communications, Inc. (NASDAQ:NUAN) by 15.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,245 shares of the software maker’s stock after selling 5,179 shares during the quarter. Arden Trust Co’s holdings in Nuance Communications were worth $938,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. grew its stake in shares of Nuance Communications by 0.7% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 629,042 shares of the software maker’s stock valued at $20,878,000 after acquiring an additional 4,311 shares during the period. FNY Investment Advisers LLC bought a new stake in Nuance Communications during the 3rd quarter worth approximately $497,000. USA Financial Portformulas Corp purchased a new position in Nuance Communications during the third quarter valued at approximately $493,000. Atria Investments LLC boosted its position in shares of Nuance Communications by 23.0% in the second quarter. Atria Investments LLC now owns 44,868 shares of the software maker’s stock worth $1,135,000 after purchasing an additional 8,377 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Nuance Communications by 2.9% in the second quarter. Principal Financial Group Inc. now owns 42,769 shares of the software maker’s stock worth $1,082,000 after purchasing an additional 1,194 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.
Several research analysts recently weighed in on the stock. Cfra downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a report on Thursday, August 6th. Oppenheimer reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Nuance Communications in a research note on Tuesday, August 11th. Barclays lifted their target price on Nuance Communications from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Wedbush upped their price target on Nuance Communications from $33.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 23rd. Finally, Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.86.
NASDAQ NUAN opened at $34.94 on Friday. The stock has a market capitalization of $9.86 billion, a PE ratio of 63.53, a P/E/G ratio of 13.64 and a beta of 0.98. The business has a 50 day simple moving average of $32.27 and a two-hundred day simple moving average of $25.46. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.28 and a quick ratio of 1.28. Nuance Communications, Inc. has a 1-year low of $13.51 and a 1-year high of $35.43.
Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Wednesday, August 5th. The software maker reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Nuance Communications had a net margin of 10.02% and a return on equity of 12.30%. The firm had revenue of $338.40 million during the quarter, compared to analyst estimates of $317.40 million. On average, analysts anticipate that Nuance Communications, Inc. will post 0.47 EPS for the current fiscal year.
Nuance Communications Company Profile
Nuance Communications, Inc provides conversational artificial intelligence (AI) innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. It offers customers high accuracy in automated speech recognition, natural language understanding capabilities, dialog and information management, biometric speaker authentication, text-to-speech, and domain knowledge along with professional services and implementation support.
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