Marathon Capital Management trimmed its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,900 shares of the software maker’s stock after selling 1,325 shares during the period. Marathon Capital Management’s holdings in Nuance Communications were worth $349,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Formula Growth Ltd. boosted its holdings in Nuance Communications by 1.6% during the first quarter. Formula Growth Ltd. now owns 1,611,000 shares of the software maker’s stock valued at $27,274,000 after acquiring an additional 25,000 shares during the period. Bank of Montreal Can boosted its holdings in Nuance Communications by 1.2% during the first quarter. Bank of Montreal Can now owns 872,514 shares of the software maker’s stock valued at $14,771,000 after acquiring an additional 10,400 shares during the period. Principal Financial Group Inc. boosted its holdings in Nuance Communications by 17.1% during the fourth quarter. Principal Financial Group Inc. now owns 24,061 shares of the software maker’s stock valued at $318,000 after acquiring an additional 3,515 shares during the period. FIL Ltd boosted its holdings in Nuance Communications by 2.9% during the first quarter. FIL Ltd now owns 9,191,377 shares of the software maker’s stock valued at $155,610,000 after acquiring an additional 262,083 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in Nuance Communications during the first quarter valued at about $143,000. Institutional investors own 87.90% of the company’s stock.
A number of equities research analysts have issued reports on NUAN shares. ValuEngine cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Wedbush restated a “buy” rating and set a $22.00 price target on shares of Nuance Communications in a report on Wednesday, July 24th. Zacks Investment Research cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, BidaskClub cut shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Nuance Communications presently has a consensus rating of “Hold” and a consensus price target of $18.80.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.13). The company had revenue of $451.00 million for the quarter, compared to analyst estimates of $449.90 million. Nuance Communications had a net margin of 2.44% and a return on equity of 14.00%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 EPS. Sell-side analysts predict that Nuance Communications Inc. will post 0.79 EPS for the current fiscal year.
In other news, CEO Mark D. Benjamin sold 45,396 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $17.40, for a total transaction of $789,890.40. Following the completion of the transaction, the chief executive officer now owns 629,430 shares of the company’s stock, valued at $10,952,082. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Weideman sold 6,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $16.04, for a total transaction of $96,240.00. The disclosure for this sale can be found here. Insiders have sold 89,998 shares of company stock valued at $1,539,110 in the last ninety days. 0.68% of the stock is owned by company insiders.
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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