Acadian Asset Management LLC Lowers Holdings in Nuance Communications, Inc. (NASDAQ:NUAN)

Acadian Asset Management LLC decreased its position in Nuance Communications, Inc. (NASDAQ:NUAN) by 33.0% in the third quarter, Holdings Channel reports. The firm owned 138,452 shares of the software maker’s stock after selling 68,134 shares during the period. Acadian Asset Management LLC’s holdings in Nuance Communications were worth $4,595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NUAN. Mizuho Securities Co. Ltd. purchased a new stake in shares of Nuance Communications in the third quarter valued at approximately $27,000. Freestone Capital Holdings LLC purchased a new stake in shares of Nuance Communications in the third quarter valued at approximately $40,000. Cerebellum GP LLC purchased a new stake in shares of Nuance Communications in the second quarter valued at approximately $80,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nuance Communications in the second quarter valued at approximately $133,000. Finally, Asset Dedication LLC purchased a new stake in shares of Nuance Communications in the third quarter valued at approximately $138,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Shares of NUAN stock opened at $41.33 on Friday. The business’s fifty day simple moving average is $33.96 and its 200-day simple moving average is $28.27. The company has a market cap of $11.67 billion, a PE ratio of 75.15, a PEG ratio of 13.39 and a beta of 1.02. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.33. Nuance Communications, Inc. has a 12-month low of $13.51 and a 12-month high of $41.58.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Tuesday, November 17th. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Nuance Communications had a return on equity of 12.30% and a net margin of 10.02%. On average, equities analysts forecast that Nuance Communications, Inc. will post 0.47 earnings per share for the current year.

In related news, CEO Mark D. Benjamin sold 44,274 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $33.80, for a total value of $1,496,461.20. Following the transaction, the chief executive officer now directly owns 768,832 shares of the company’s stock, valued at approximately $25,986,521.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Arthur G. Giterman sold 2,472 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $32.15, for a total value of $79,474.80. Following the completion of the transaction, the chief accounting officer now directly owns 89,551 shares in the company, valued at $2,879,064.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,776 shares of company stock worth $2,863,484. 0.50% of the stock is owned by insiders.

A number of analysts have weighed in on NUAN shares. Wedbush upped their target price on Nuance Communications from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Craig Hallum upped their target price on Nuance Communications from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub upgraded Nuance Communications from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Barclays upped their target price on Nuance Communications from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, SVB Leerink upped their target price on Nuance Communications from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Nuance Communications has a consensus rating of “Buy” and an average price target of $38.29.

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.

Further Reading: Market Perform

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Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

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