Nuance Communications, Inc. (NUAN) Shares Sold by Intrinsic Edge Capital Management LLC
Intrinsic Edge Capital Management LLC lowered its position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) by 29.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 391,251 shares of the software maker’s stock after selling 166,351 shares during the period. Nuance Communications comprises about 2.1% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 11th largest position. Intrinsic Edge Capital Management LLC owned 0.14% of Nuance Communications worth $6,812,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Bank of Australia increased its position in Nuance Communications by 29.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,000 shares of the software maker’s stock valued at $121,000 after acquiring an additional 1,600 shares during the period. Ledyard National Bank increased its position in Nuance Communications by 4.8% in the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock valued at $125,000 after acquiring an additional 330 shares during the period. Daiwa Securities Group Inc. increased its position in Nuance Communications by 23.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the software maker’s stock valued at $146,000 after acquiring an additional 1,600 shares during the period. World Asset Management Inc acquired a new position in Nuance Communications in the 1st quarter valued at about $180,000. Finally, Westover Capital Advisors LLC acquired a new position in Nuance Communications in the 1st quarter valued at about $185,000. Institutional investors and hedge funds own 84.29% of the company’s stock.
Several equities analysts recently issued reports on NUAN shares. Deutsche Bank AG restated a “buy” rating and issued a $25.00 price target on shares of Nuance Communications in a research report on Monday, June 12th. Canaccord Genuity dropped their price target on Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Morgan Stanley restated an “equal weight” rating and issued a $18.00 price target (down previously from $19.00) on shares of Nuance Communications in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $23.00 price target (down previously from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.38.
In related news, insider Daniel David Tempesta sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $15.99, for a total transaction of $103,935.00. Following the transaction, the insider now owns 270,677 shares in the company, valued at $4,328,125.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 20,500 shares of company stock worth $335,405 in the last 90 days. 1.67% of the stock is owned by company insiders.
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Shares of Nuance Communications, Inc. (NASDAQ NUAN) traded down 0.63% during midday trading on Thursday, reaching $15.84. The company’s stock had a trading volume of 466,412 shares. The company’s market capitalization is $4.57 billion. The stock has a 50 day moving average of $15.90 and a 200-day moving average of $17.24. Nuance Communications, Inc. has a 1-year low of $13.44 and a 1-year high of $19.93.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). Nuance Communications had a negative net margin of 3.38% and a positive return on equity of 14.73%. The firm had revenue of $495.60 million during the quarter, compared to analyst estimates of $495.57 million. During the same quarter in the previous year, the business posted $0.38 EPS. Nuance Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Nuance Communications, Inc. will post $1.00 earnings per share for the current year.
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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