Nuance Communications, Inc. (NUAN) Position Raised by TCW Group Inc.
TCW Group Inc. boosted its stake in Nuance Communications, Inc. (NASDAQ:NUAN) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,444,752 shares of the software maker’s stock after purchasing an additional 13,221 shares during the quarter. TCW Group Inc. owned about 0.50% of Nuance Communications worth $22,712,000 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 the stock. Tower Research Capital LLC TRC bought a new position in Nuance Communications during the second quarter valued at approximately $103,000. Commonwealth Bank of Australia grew its holdings in shares of Nuance Communications by 29.6% in the second quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock worth $121,000 after purchasing an additional 1,600 shares during the last quarter. Exane Derivatives grew its holdings in shares of Nuance Communications by 250.3% in the third quarter. Exane Derivatives now owns 8,274 shares of the software maker’s stock worth $130,000 after purchasing an additional 5,912 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Nuance Communications by 23.5% in the second quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock worth $146,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Concorde Asset Management LLC bought a new position in shares of Nuance Communications in the third quarter worth approximately $159,000. 86.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Daniel David Tempesta sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $15.58, for a total transaction of $101,270.00. Following the sale, the insider now directly owns 258,188 shares of the company’s stock, valued at approximately $4,022,569.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth M. Siegel sold 4,682 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $16.00, for a total value of $74,912.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,682 shares of company stock valued at $280,117. 1.67% of the stock is currently owned by corporate insiders.
Shares of Nuance Communications, Inc. (NASDAQ NUAN) traded down $0.47 during trading hours on Wednesday, hitting $14.29. The company had a trading volume of 4,051,500 shares, compared to its average volume of 2,585,890. The company has a market cap of $4,259.73, a P/E ratio of 15.06, a PEG ratio of 1.73 and a beta of 0.58. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.14. Nuance Communications, Inc. has a 52 week low of $14.26 and a 52 week high of $19.93.
A number of analysts recently commented on NUAN shares. Morgan Stanley raised Nuance Communications from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Thursday, November 2nd. BidaskClub lowered Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Nuance Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Raymond James Financial, Inc. lowered their price target on Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG lowered their price target on Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Nuance Communications presently has a consensus rating of “Buy” and a consensus target price of $20.38.
Nuance Communications Profile
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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