Koch Industries Inc. Buys New Stake in Nuance Communications, Inc. (NUAN)

Koch Industries Inc. bought a new position in shares of Nuance Communications, Inc. (NASDAQ:NUAN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 553,110 shares of the software maker’s stock, valued at approximately $523,000. Koch Industries Inc. owned about 0.19% of Nuance Communications at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Nuance Communications during the 2nd quarter worth approximately $103,000. Commonwealth Bank of Australia grew its position in Nuance Communications by 29.6% during the 2nd 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. Ledyard National Bank grew its position in Nuance Communications by 4.8% during the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after purchasing an additional 330 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Nuance Communications by 23.5% during the 2nd 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, The Manufacturers Life Insurance Company grew its position in Nuance Communications by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock worth $178,000 after purchasing an additional 809 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

Nuance Communications, Inc. (NUAN) traded down 0.69% during mid-day trading on Friday, hitting $15.75. 1,466,164 shares of the stock traded hands. The company has a 50 day moving average of $15.90 and a 200-day moving average of $17.20. Nuance Communications, Inc. has a 12-month low of $13.44 and a 12-month high of $19.93. The stock’s market cap is $4.55 billion.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data 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 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 analysts’ expectations of $495.57 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Nuance Communications, Inc. will post $1.00 earnings per share for the current year.

Several analysts have weighed in on the stock. Canaccord Genuity dropped their target price on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $23.00 target price (down previously from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Deutsche Bank AG dropped their target price on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. dropped their target price on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.38.

In related news, insider Daniel David Tempesta sold 6,500 shares of Nuance Communications stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.99, for a total value of $103,935.00. Following the transaction, the insider now directly owns 270,677 shares in the company, valued at approximately $4,328,125.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth M. Siegel sold 4,682 shares of Nuance Communications stock in a transaction on Friday, October 6th. The shares were sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,182 shares of company stock worth $410,317. 1.67% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “Koch Industries Inc. Buys New Stake in Nuance Communications, Inc. (NUAN)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/15/koch-industr

Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Nuance Communications during the 2nd quarter worth approximately $103,000. Commonwealth Bank of Australia grew its position in Nuance Communications by 29.6% during the 2nd 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. Ledyard National Bank grew its position in Nuance Communications by 4.8% during the 2nd quarter. Ledyard National Bank now owns 7,160 shares of the software maker’s stock worth $125,000 after purchasing an additional 330 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Nuance Communications by 23.5% during the 2nd 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, The Manufacturers Life Insurance Company grew its position in Nuance Communications by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock worth $178,000 after purchasing an additional 809 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors.

Nuance Communications, Inc. (NUAN) traded down 0.69% during mid-day trading on Friday, hitting $15.75. 1,466,164 shares of the stock traded hands. The company has a 50 day moving average of $15.90 and a 200-day moving average of $17.20. Nuance Communications, Inc. has a 12-month low of $13.44 and a 12-month high of $19.93. The stock’s market cap is $4.55 billion.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data 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 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 analysts’ expectations of $495.57 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Nuance Communications, Inc. will post $1.00 earnings per share for the current year.

Several analysts have weighed in on the stock. Canaccord Genuity dropped their target price on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $23.00 target price (down previously from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Deutsche Bank AG dropped their target price on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. dropped their target price on shares of Nuance Communications from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.38.

In related news, insider Daniel David Tempesta sold 6,500 shares of Nuance Communications stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.99, for a total value of $103,935.00. Following the transaction, the insider now directly owns 270,677 shares in the company, valued at approximately $4,328,125.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth M. Siegel sold 4,682 shares of Nuance Communications stock in a transaction on Friday, October 6th. The shares were sold at an average price of $16.00, for a total transaction of $74,912.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,182 shares of company stock worth $410,317. 1.67% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “Koch Industries Inc. Buys New Stake in Nuance Communications, Inc. (NUAN)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/15/koch-industries-inc-buys-new-stake-in-nuance-communications-inc-nuan.html.

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

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