Oppenheimer & Co. Inc. lowered its stake in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,493 shares of the company’s stock after selling 6,019 shares during the period. Oppenheimer & Co. Inc.’s holdings in Nuance Communications were worth $477,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Tobam increased its stake in Nuance Communications by 10.4% in the first quarter. Tobam now owns 171,609 shares of the company’s stock valued at $3,208,000 after buying an additional 16,118 shares during the period. Algert Global LLC increased its stake in Nuance Communications by 21.3% in the first quarter. Algert Global LLC now owns 71,614 shares of the company’s stock valued at $1,338,000 after buying an additional 12,554 shares during the period. Wrapmanager Inc. increased its stake in Nuance Communications by 5.8% in the first quarter. Wrapmanager Inc. now owns 14,871 shares of the company’s stock valued at $278,000 after buying an additional 813 shares during the period. Teachers Advisors Inc. increased its stake in Nuance Communications by 15.6% in the first quarter. Teachers Advisors Inc. now owns 1,026,717 shares of the company’s stock valued at $19,189,000 after buying an additional 138,207 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in Nuance Communications by 27.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,618,885 shares of the company’s stock valued at $30,257,000 after buying an additional 347,283 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.

Nuance Communications Inc. (NASDAQ:NUAN) opened at 14.15 on Friday. The stock has a 50 day moving average of $15.09 and a 200 day moving average of $16.91. Nuance Communications Inc. has a 12-month low of $14.02 and a 12-month high of $21.83. The firm’s market capitalization is $3.96 billion.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The business earned $484.90 million during the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. Nuance Communications’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. Equities research analysts anticipate that Nuance Communications Inc. will post $1.51 earnings per share for the current year.

Several research firms recently issued reports on NUAN. Barclays PLC set a $19.00 price target on shares of Nuance Communications and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Deutsche Bank AG dropped their price target on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Zacks Investment Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $26.00 price target on shares of Nuance Communications in a research note on Thursday, August 11th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Nuance Communications currently has an average rating of “Buy” and a consensus price target of $21.82.

In related news, VP Adam Bruce Bowden sold 6,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $16.03, for a total transaction of $96,180.00. Following the completion of the sale, the vice president now directly owns 193,490 shares of the company’s stock, valued at approximately $3,101,644.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.23% of the company’s stock.

About Nuance Communications

Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.

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