UBS Asset Management Americas Inc. reduced its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 90.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,447 shares of the software maker’s stock after selling 2,501,816 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.09% of Nuance Communications worth $4,324,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of NUAN. SG Americas Securities LLC acquired a new position in shares of Nuance Communications in the 3rd quarter valued at $149,000. The Manufacturers Life Insurance Company increased its stake 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 buying an additional 809 shares during the period. CIBC World Markets Inc. purchased a new stake in Nuance Communications during the 4th quarter worth $176,000. ETRADE Capital Management LLC purchased a new stake in Nuance Communications during the 3rd quarter worth $172,000. Finally, FDx Advisors Inc. purchased a new stake in Nuance Communications during the 3rd quarter worth $184,000. 85.44% of the stock is owned by institutional investors.
Shares of Nuance Communications Inc. (NASDAQ NUAN) traded down $0.19 during trading hours on Tuesday, reaching $16.98. 1,221,423 shares of the company’s stock were exchanged, compared to its average volume of 2,750,223. The company has a market cap of $5,119.18, a price-to-earnings ratio of -63.15, a P/E/G ratio of 1.76 and a beta of 0.69. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. Nuance Communications Inc. has a 12-month low of $14.02 and a 12-month high of $19.93.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Thursday, February 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $508.80 million for the quarter, compared to analyst estimates of $508.55 million. Nuance Communications had a negative net margin of 3.76% and a positive return on equity of 11.62%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. analysts expect that Nuance Communications Inc. will post 0.83 EPS for the current year.
Several research firms have recently weighed in on NUAN. Oppenheimer reissued a “buy” rating and issued a $23.00 target price on shares of Nuance Communications in a research report on Tuesday, January 23rd. BidaskClub lowered shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $21.00 price target on shares of Nuance Communications in a research note on Monday, January 22nd. TheStreet upgraded shares of Nuance Communications from a “d+” rating to a “c-” rating in a report on Wednesday, January 17th. Finally, Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.50.
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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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