Clinton Group Inc. lowered its position in Nuance Communications, Inc. (NASDAQ:NUAN) by 96.5% during the first quarter, Holdings Channel reports. The firm owned 12,451 shares of the software maker’s stock after selling 341,503 shares during the period. Clinton Group Inc.’s holdings in Nuance Communications were worth $216,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its position in Nuance Communications by 19.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,800 shares of the software maker’s stock worth $118,000 after buying an additional 1,100 shares during the period. IFP Advisors Inc boosted its position in Nuance Communications by 5.1% in the first quarter. IFP Advisors Inc now owns 8,270 shares of the software maker’s stock worth $143,000 after buying an additional 400 shares during the period. World Asset Management Inc bought a new position in Nuance Communications during the first quarter worth approximately $180,000. Raymond James Trust N.A. bought a new position in Nuance Communications during the first quarter worth approximately $185,000. Finally, Comerica Bank bought a new position in Nuance Communications during the fourth quarter worth approximately $194,000. 85.98% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Nuance Communications, Inc. (NASDAQ NUAN) opened at 18.20 on Friday. The company’s market cap is $5.24 billion. The stock has a 50 day moving average of $18.64 and a 200-day moving average of $16.90. Nuance Communications, Inc. has a 12 month low of $13.44 and a 12 month high of $19.93.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings results on Tuesday, May 9th. The software maker reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.04. The firm had revenue of $511.10 million for the quarter, compared to the consensus estimate of $506.83 million. Nuance Communications had a positive return on equity of 15.76% and a negative net margin of 2.57%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. Equities analysts forecast that Nuance Communications, Inc. will post $1.18 earnings per share for the current year.

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A number of brokerages have recently issued reports on NUAN. Deutsche Bank AG reissued a “buy” rating and issued a $25.00 target price on shares of Nuance Communications in a research report on Monday, June 12th. Stifel Nicolaus boosted their target price on shares of Nuance Communications from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, May 10th. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, Barclays PLC reissued a “buy” rating and issued a $22.00 target price on shares of Nuance Communications in a research report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.00.

In other Nuance Communications news, insider Robert C. Schassler sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $18.00, for a total value of $45,000.00. Following the completion of the transaction, the insider now owns 209,536 shares in the company, valued at approximately $3,771,648. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Adam Bruce Bowden sold 9,131 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $16.75, for a total value of $152,944.25. Following the completion of the transaction, the vice president now owns 192,529 shares of the company’s stock, valued at approximately $3,224,860.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,492 shares of company stock valued at $3,857,988. 1.67% of the stock is owned by corporate insiders.

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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