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

Coatue Management LLC cut its position in Nuance Communications, Inc. (NASDAQ:NUAN) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,452,563 shares of the software maker’s stock after selling 792,211 shares during the quarter. Nuance Communications comprises 2.9% of Coatue Management LLC’s investment portfolio, making the stock its 12th biggest position. Coatue Management LLC owned about 4.28% of Nuance Communications worth $732,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Red Door Wealth Management LLC purchased a new stake in Nuance Communications in the 2nd quarter worth approximately $54,000. Barrett Asset Management LLC purchased a new stake in shares of Nuance Communications during the 1st quarter valued at $90,000. Quantbot Technologies LP purchased a new stake in shares of Nuance Communications during the 1st quarter valued at $104,000. Glazer Capital LLC purchased a new stake in shares of Nuance Communications during the 2nd quarter valued at $163,000. Finally, AGF Investments Inc. purchased a new stake in shares of Nuance Communications during the 2nd quarter valued at $190,000. Institutional investors and hedge funds own 85.96% of the company’s stock.

In other news, EVP Robert Weideman sold 215,838 shares of Nuance Communications stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $55.06, for a total transaction of $11,884,040.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Nuance Communications currently has an average rating of “Hold” and an average target price of $59.00.

NASDAQ:NUAN traded up $0.08 during trading hours on Thursday, reaching $55.24. The company’s stock had a trading volume of 19,911 shares, compared to its average volume of 5,269,986. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of -424.31 and a beta of 1.25. The firm has a 50-day simple moving average of $55.07 and a 200-day simple moving average of $53.63. Nuance Communications, Inc. has a 1 year low of $31.05 and a 1 year high of $55.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.69 and a current ratio of 0.69.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Thursday, August 5th. The software maker reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $336.58 million during the quarter, compared to the consensus estimate of $334.20 million. Nuance Communications had a positive return on equity of 9.04% and a negative net margin of 2.82%. Nuance Communications’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. Equities analysts anticipate that Nuance Communications, Inc. will post 0.39 earnings per share for the current fiscal year.

Nuance Communications Profile

Nuance Communications, Inc is the pioneer in conversational AI innovations that bring intelligence to everyday work and life. The firm delivers solutions that understand, analyze and respond to people, amplifying human intelligence to increase productivity and security. It operates through the following segments: Healthcare, Enterprise, and Other.

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

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