Wedge Capital Management L L P NC Lowers Stock Position in Nuance Communications Inc. (NASDAQ:NUAN)

Wedge Capital Management L L P NC reduced its stake in Nuance Communications Inc. (NASDAQ:NUAN) by 36.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,969 shares of the software maker’s stock after selling 8,605 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Nuance Communications were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in NUAN. First Trust Advisors LP raised its stake in Nuance Communications by 1.9% in the first quarter. First Trust Advisors LP now owns 40,358 shares of the software maker’s stock valued at $683,000 after purchasing an additional 766 shares in the last quarter. PFS Investments Inc. purchased a new position in shares of Nuance Communications during the second quarter worth approximately $358,000. Penbrook Management LLC raised its stake in shares of Nuance Communications by 5.9% during the second quarter. Penbrook Management LLC now owns 47,550 shares of the software maker’s stock worth $759,000 after acquiring an additional 2,650 shares in the last quarter. Polianta Ltd purchased a new position in shares of Nuance Communications during the second quarter worth approximately $1,062,000. Finally, Machina Capital S.A.S. purchased a new position in shares of Nuance Communications during the second quarter worth approximately $371,000. 89.21% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Stefan Ortmanns sold 6,091 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $17.00, for a total transaction of $103,547.00. Following the sale, the executive vice president now owns 416,521 shares in the company, valued at approximately $7,080,857. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Nuance Communications, Inc. sold 650,736 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $17.00, for a total transaction of $11,062,512.00. Following the sale, the insider now owns 35,740,709 shares in the company, valued at approximately $607,592,053. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 698,587 shares of company stock worth $11,881,320. Company insiders own 0.68% of the company’s stock.

Several research analysts have commented on NUAN shares. Barclays decreased their price target on shares of Nuance Communications from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Zacks Investment Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BidaskClub downgraded shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Finally, Wedbush started coverage on shares of Nuance Communications in a research note on Friday, September 27th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.25.

Shares of NUAN stock traded down $0.04 during trading hours on Friday, hitting $16.50. 1,347,900 shares of the company’s stock were exchanged, compared to its average volume of 2,011,618. Nuance Communications Inc. has a 12-month low of $12.66 and a 12-month high of $18.16. The company has a market capitalization of $4.63 billion, a PE ratio of 20.37, a PEG ratio of 3.85 and a beta of 0.94. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The business’s 50 day simple moving average is $15.73 and its 200-day simple moving average is $16.56.

Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. The firm had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $455.93 million. Equities analysts anticipate that Nuance Communications Inc. will post 0.82 EPS for the current year.

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

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