Great West Life Assurance Co. Can cut its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 31.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 462,740 shares of the software maker’s stock after selling 216,603 shares during the period. Great West Life Assurance Co. Can’s holdings in Nuance Communications were worth $8,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NUAN. Daiwa Securities Group Inc. raised its position in Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after buying an additional 1,100 shares during the period. Ledyard National Bank raised its position in Nuance Communications by 4.8% in the second quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after buying an additional 330 shares during the period. IFP Advisors Inc raised its position in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the period. World Asset Management Inc bought a new position in Nuance Communications during the first quarter worth about $180,000. Finally, Raymond James Trust N.A. bought a new position in Nuance Communications during the first quarter worth about $185,000. Hedge funds and other institutional investors own 84.01% of the company’s stock.

Shares of Nuance Communications, Inc. (NUAN) opened at 16.15 on Friday. Nuance Communications, Inc. has a 1-year low of $13.44 and a 1-year high of $19.93. The firm has a 50-day moving average price of $17.33 and a 200-day moving average price of $17.44. The firm’s market capitalization is $4.65 billion.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.09. Nuance Communications had a positive return on equity of 14.76% and a negative net margin of 3.38%. The business had revenue of $495.60 million for the quarter, compared to analysts’ expectations of $495.57 million. During the same period last year, the company posted $0.38 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts forecast that Nuance Communications, Inc. will post $1.02 EPS for the current fiscal year.

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A number of research firms recently issued reports on NUAN. Canaccord Genuity decreased their target price on Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday. Barclays PLC decreased their target price on Nuance Communications from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $23.00 target price (down from $26.00) on shares of Nuance Communications in a report on Thursday. Raymond James Financial, Inc. decreased their target price on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a report on Wednesday. Finally, Deutsche Bank AG decreased their target price on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.11.

In other Nuance Communications news, VP Adam Bruce Bowden sold 5,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $19.15, for a total value of $95,750.00. Following the completion of the transaction, the vice president now directly owns 149,414 shares of the company’s stock, valued at approximately $2,861,278.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $18.80, for a total transaction of $141,000.00. Following the completion of the transaction, the insider now directly owns 295,310 shares of the company’s stock, valued at $5,551,828. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,267 shares of company stock valued at $3,518,245. 1.67% of the stock is owned by corporate insiders.

About Nuance Communications

Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.

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

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