Mesirow Financial Investment Management Equity Management reduced its stake in Nuance Communications Inc. (NASDAQ:NUAN) by 35.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 641,070 shares of the software maker’s stock after selling 359,600 shares during the period. Mesirow Financial Investment Management Equity Management owned approximately 0.22% of Nuance Communications worth $8,481,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp boosted its position in Nuance Communications by 2.3% during the second quarter. Northern Trust Corp now owns 1,335,938 shares of the software maker’s stock valued at $18,549,000 after buying an additional 29,498 shares during the period. Atria Investments LLC boosted its position in Nuance Communications by 47.2% during the third quarter. Atria Investments LLC now owns 60,416 shares of the software maker’s stock valued at $1,046,000 after buying an additional 19,376 shares during the period. Bank of Montreal Can boosted its position in Nuance Communications by 2.3% during the third quarter. Bank of Montreal Can now owns 919,961 shares of the software maker’s stock valued at $15,934,000 after buying an additional 20,249 shares during the period. First Hawaiian Bank purchased a new stake in Nuance Communications during the third quarter valued at about $196,000. Finally, TRUE Private Wealth Advisors bought a new position in shares of Nuance Communications during the third quarter valued at about $106,000. Institutional investors own 87.71% of the company’s stock.
In other Nuance Communications news, insider Robert Weideman sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $15.00, for a total transaction of $60,000.00. Following the completion of the transaction, the insider now owns 522,878 shares of the company’s stock, valued at $7,843,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $15.76, for a total transaction of $130,823.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,912 shares of company stock valued at $874,062. 0.68% of the stock is owned by insiders.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings results on Thursday, February 7th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.07. Nuance Communications had a negative net margin of 9.50% and a positive return on equity of 13.88%. The company had revenue of $493.65 million during the quarter, compared to the consensus estimate of $504.85 million. During the same period in the prior year, the firm earned $0.27 earnings per share. Nuance Communications’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts anticipate that Nuance Communications Inc. will post 0.72 earnings per share for the current year.
Several equities analysts have recently commented on NUAN shares. Wedbush started coverage on shares of Nuance Communications in a research note on Thursday, October 18th. They set an “outperform” rating and a $22.00 price objective for the company. ValuEngine raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. BidaskClub raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Morgan Stanley downgraded shares of Nuance Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $19.00 to $17.00 in a research note on Tuesday, January 15th. Finally, Zacks Investment Research downgraded shares of Nuance Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Nuance Communications presently has an average rating of “Buy” and an average target price of $18.33.
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About Nuance Communications
Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.
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