Virtu Financial LLC purchased a new position in shares of Nuance Communications Inc. (NASDAQ:NUAN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 76,421 shares of the software maker’s stock, valued at approximately $1,011,000.
Several other hedge funds have also modified their holdings of NUAN. Dimensional Fund Advisors LP grew its stake in shares of Nuance Communications by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,674,334 shares of the software maker’s stock worth $37,132,000 after acquiring an additional 290,853 shares during the last quarter. California Public Employees Retirement System boosted its position in Nuance Communications by 22.3% in the second quarter. California Public Employees Retirement System now owns 921,469 shares of the software maker’s stock valued at $12,795,000 after buying an additional 168,075 shares during the last quarter. Global X Management Co LLC purchased a new stake in Nuance Communications in the second quarter valued at approximately $184,000. Northern Trust Corp boosted its position in Nuance Communications by 2.3% in the second quarter. Northern Trust Corp now owns 1,335,938 shares of the software maker’s stock valued at $18,549,000 after buying an additional 29,498 shares during the last quarter. Finally, Royal London Asset Management Ltd. purchased a new stake in Nuance Communications in the second quarter valued at approximately $1,588,000. Institutional investors and hedge funds own 88.41% of the company’s stock.
Nuance Communications stock opened at $15.35 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.22 and a current ratio of 1.22. Nuance Communications Inc. has a 12 month low of $12.18 and a 12 month high of $18.75. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.58 and a beta of 0.96.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Monday, November 19th. The software maker reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.06. Nuance Communications had a positive return on equity of 12.66% and a negative net margin of 7.80%. The business had revenue of $536.21 million for the quarter, compared to analyst estimates of $525.05 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts expect that Nuance Communications Inc. will post 0.81 earnings per share for the current year.
NUAN has been the topic of a number of recent research reports. BidaskClub upgraded Nuance Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Zacks Investment Research lowered Nuance Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine upgraded Nuance Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Wedbush initiated coverage on Nuance Communications in a research report on Thursday, October 18th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Morgan Stanley lowered Nuance Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $19.00 to $17.00 in a research report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Nuance Communications presently has a consensus rating of “Hold” and an average target price of $19.50.
In other news, EVP Robert Weideman sold 28,675 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $17.24, for a total transaction of $494,357.00. Following the completion of the transaction, the executive vice president now directly owns 346,088 shares of the company’s stock, valued at approximately $5,966,557.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $12.97, for a total value of $107,663.97. Following the transaction, the executive vice president now directly owns 334,824 shares of the company’s stock, valued at $4,342,667.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,786 shares of company stock worth $1,369,115. Insiders own 0.68% of the company’s stock.
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Nuance Communications Profile
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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