First Mercantile Trust Co. Lowers Position in Nuance Communications Inc. (NUAN)

First Mercantile Trust Co. lowered its stake in Nuance Communications Inc. (NASDAQ:NUAN) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,299 shares of the software maker’s stock after selling 247 shares during the period. First Mercantile Trust Co.’s holdings in Nuance Communications were worth $282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its stake in Nuance Communications by 10.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,509,791 shares of the software maker’s stock worth $94,392,000 after buying an additional 593,793 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Nuance Communications by 13.8% in the first quarter. Peregrine Capital Management LLC now owns 2,346,535 shares of the software maker’s stock worth $39,938,000 after buying an additional 283,896 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Nuance Communications by 134.7% in the fourth quarter. Two Sigma Investments LP now owns 2,085,076 shares of the software maker’s stock worth $31,068,000 after buying an additional 1,196,655 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nuance Communications by 31.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,015,055 shares of the software maker’s stock worth $30,024,000 after buying an additional 487,800 shares in the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in shares of Nuance Communications by 11.6% in the fourth quarter. Highbridge Capital Management LLC now owns 1,778,856 shares of the software maker’s stock worth $26,505,000 after buying an additional 184,263 shares in the last quarter. Institutional investors own 82.96% of the company’s stock.

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

Nuance Communications Inc. (NASDAQ:NUAN) traded up 1.83% during midday trading on Friday, hitting $18.87. The stock had a trading volume of 495,266 shares. The firm’s market cap is $5.43 billion. Nuance Communications Inc. has a 12-month low of $13.44 and a 12-month high of $19.93. The stock has a 50-day moving average price of $17.65 and a 200 day moving average price of $16.36.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $511.10 million during the quarter, compared to analyst estimates of $506.83 million. Nuance Communications had a positive return on equity of 15.22% and a negative net margin of 1.24%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, equities analysts anticipate that Nuance Communications Inc. will post $1.18 earnings per share for the current fiscal year.

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Several equities analysts have recently issued reports on NUAN shares. Zacks Investment Research cut Nuance Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $20.00 price objective on shares of Nuance Communications in a report on Friday, February 3rd. Barclays PLC reissued a “buy” rating and issued a $22.00 price objective on shares of Nuance Communications in a report on Friday, May 12th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $26.00 price target on shares of Nuance Communications in a research note on Thursday, February 9th. Finally, Stifel Nicolaus lifted their price target on Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $22.00.

In related news, EVP Robert C. Schassler sold 35,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $17.04, for a total transaction of $596,400.00. Following the completion of the sale, the executive vice president now directly owns 237,036 shares of the company’s stock, valued at $4,039,093.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Adam Bruce Bowden sold 9,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $16.75, for a total transaction of $152,944.25. Following the sale, the vice president now owns 192,529 shares in the company, valued at approximately $3,224,860.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,225 shares of company stock valued at $1,292,743. Company insiders own 1.67% of the company’s stock.

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.

5 Day Chart for NASDAQ:NUAN

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