Neuberger Berman Group LLC Reduces Stake in Nuance Communications Inc. (NUAN)

Neuberger Berman Group LLC lowered its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,404,537 shares of the software maker’s stock after selling 121,496 shares during the quarter. Neuberger Berman Group LLC’s holdings in Nuance Communications were worth $69,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Nuance Communications by 52.4% during the first quarter. Victory Capital Management Inc. now owns 10,267,513 shares of the software maker’s stock worth $161,714,000 after buying an additional 3,530,349 shares in the last quarter. Fairpointe Capital LLC lifted its holdings in shares of Nuance Communications by 1.7% during the fourth quarter. Fairpointe Capital LLC now owns 5,219,722 shares of the software maker’s stock worth $85,343,000 after buying an additional 85,412 shares in the last quarter. Criterion Capital Management LLC acquired a new stake in shares of Nuance Communications during the first quarter worth $42,208,000. Geode Capital Management LLC lifted its holdings in shares of Nuance Communications by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,420,797 shares of the software maker’s stock worth $39,580,000 after buying an additional 74,700 shares in the last quarter. Finally, 12th Street Asset Management Company LLC lifted its holdings in shares of Nuance Communications by 23.6% during the first quarter. 12th Street Asset Management Company LLC now owns 2,391,602 shares of the software maker’s stock worth $37,668,000 after buying an additional 457,414 shares in the last quarter. 88.05% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. Oppenheimer reissued a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a report on Tuesday, January 23rd. BidaskClub downgraded Nuance Communications from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Canaccord Genuity reissued a “buy” rating and set a $21.00 target price on shares of Nuance Communications in a report on Monday, January 22nd. Morgan Stanley set a $20.00 target price on Nuance Communications and gave the stock a “buy” rating in a report on Thursday, March 22nd. Finally, Zacks Investment Research downgraded Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $20.00.

Nuance Communications opened at $13.70 on Friday, MarketBeat reports. The stock has a market capitalization of $4.05 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.63 and a beta of 0.66. Nuance Communications Inc. has a 52 week low of $12.18 and a 52 week high of $19.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.54 and a quick ratio of 1.54.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Wednesday, May 9th. The software maker reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $518.31 million during the quarter, compared to analyst estimates of $516.43 million. Nuance Communications had a negative net margin of 10.32% and a positive return on equity of 9.42%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. sell-side analysts predict that Nuance Communications Inc. will post 0.7 earnings per share for the current fiscal year.

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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