Janney Montgomery Scott LLC Trims Stock Position in Nuance Communications Inc. (NASDAQ:NUAN)

Janney Montgomery Scott LLC cut its stake in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,043 shares of the software maker’s stock after selling 4,763 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Nuance Communications were worth $1,823,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in Nuance Communications by 125.8% during the first quarter. Meeder Asset Management Inc. now owns 9,218 shares of the software maker’s stock valued at $154,000 after buying an additional 5,135 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Nuance Communications by 11.4% during the first quarter. Parametric Portfolio Associates LLC now owns 465,066 shares of the software maker’s stock valued at $7,804,000 after buying an additional 47,664 shares during the period. Cerebellum GP LLC purchased a new position in Nuance Communications during the second quarter valued at approximately $80,000. Geode Capital Management LLC increased its holdings in Nuance Communications by 3.1% during the first quarter. Geode Capital Management LLC now owns 4,830,044 shares of the software maker’s stock valued at $81,047,000 after buying an additional 143,764 shares during the period. Finally, Eminence Capital LP purchased a new position in Nuance Communications during the first quarter valued at approximately $49,333,000. 91.76% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on NUAN. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a report on Thursday, July 23rd. Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. Morgan Stanley raised their target price on shares of Nuance Communications from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Barclays raised their target price on shares of Nuance Communications from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Finally, SVB Leerink started coverage on shares of Nuance Communications in a research note on Monday, June 29th. They issued an “outperform” rating and a $31.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.17.

In other news, SVP Arthur G. Giterman sold 5,557 shares of Nuance Communications stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $21.00, for a total transaction of $116,697.00. Following the completion of the sale, the senior vice president now directly owns 99,904 shares in the company, valued at $2,097,984. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Weideman sold 62,698 shares of Nuance Communications stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $19.03, for a total transaction of $1,193,142.94. Following the sale, the executive vice president now owns 512,165 shares of the company’s stock, valued at $9,746,499.95. The disclosure for this sale can be found here. Insiders have sold 78,688 shares of company stock valued at $1,556,045 over the last quarter. Insiders own 0.50% of the company’s stock.

Shares of NUAN opened at $27.35 on Friday. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 12.27 and a beta of 1.04. Nuance Communications Inc. has a twelve month low of $13.51 and a twelve month high of $28.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The company has a 50 day moving average of $25.24 and a two-hundred day moving average of $21.16.

Nuance Communications (NASDAQ:NUAN) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Nuance Communications had a net margin of 9.06% and a return on equity of 12.80%. The business had revenue of $369.55 million during the quarter, compared to the consensus estimate of $351.56 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect that Nuance Communications Inc. will post 0.45 EPS for the current year.

Nuance Communications Company 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.

Read More: Initial Public Offering (IPO)

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

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