Alberta Investment Management Corp purchased a new stake in Nuance Communications Inc. (NASDAQ:NUAN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 150,900 shares of the software maker’s stock, valued at approximately $2,532,000. Alberta Investment Management Corp owned 0.05% of Nuance Communications at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Assetmark Inc. grew its position in Nuance Communications by 550.7% in the fourth quarter. Assetmark Inc. now owns 1,412 shares of the software maker’s stock valued at $25,000 after acquiring an additional 1,195 shares during the period. North Star Investment Management Corp. bought a new stake in Nuance Communications in the first quarter valued at $32,000. Exchange Traded Concepts LLC bought a new stake in Nuance Communications in the fourth quarter valued at $71,000. Parallel Advisors LLC bought a new stake in Nuance Communications in the first quarter valued at $67,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Nuance Communications during the fourth quarter worth $90,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.
NUAN has been the topic of several research analyst reports. Guggenheim initiated coverage on Nuance Communications in a report on Tuesday, April 14th. They set a “neutral” rating on the stock. Wedbush restated an “outperform” rating on shares of Nuance Communications in a report on Friday, February 7th. Morgan Stanley decreased their target price on Nuance Communications from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. BidaskClub upgraded Nuance Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Finally, Zacks Investment Research cut Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Nuance Communications presently has a consensus rating of “Buy” and an average target price of $23.00.
Shares of NUAN opened at $21.46 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. Nuance Communications Inc. has a 12-month low of $13.51 and a 12-month high of $23.58. The firm has a market capitalization of $5.90 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 8.74 and a beta of 0.99. The stock’s fifty day simple moving average is $18.73 and its 200-day simple moving average is $18.71.
Nuance Communications (NASDAQ:NUAN) last released its earnings results on Thursday, May 7th. The software maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Nuance Communications had a return on equity of 12.80% and a net margin of 9.06%. The firm had revenue of $369.55 million for the quarter, compared to analyst estimates of $351.56 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts anticipate that Nuance Communications Inc. will post 0.48 EPS for the current year.
In other news, EVP Robert Dahdah sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $21.61, for a total transaction of $54,025.00. Following the sale, the executive vice president now owns 299,965 shares of the company’s stock, valued at $6,482,243.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Benjamin sold 60,879 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $19.35, for a total value of $1,178,008.65. Following the sale, the chief executive officer now directly owns 841,244 shares in the company, valued at approximately $16,278,071.40. The disclosure for this sale can be found here. Insiders sold 161,634 shares of company stock worth $3,085,124 in the last three months. Insiders own 0.50% of the company’s stock.
Nuance Communications Profile
Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.
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