First Republic Investment Management Inc. grew its holdings in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 35.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,449 shares of the software maker’s stock after purchasing an additional 19,343 shares during the quarter. First Republic Investment Management Inc.’s holdings in Nuance Communications were worth $1,020,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NUAN. Victory Capital Management Inc. lifted its position in Nuance Communications by 27.1% during the second quarter. Victory Capital Management Inc. now owns 13,050,497 shares of the software maker’s stock valued at $181,205,000 after purchasing an additional 2,782,984 shares during the last quarter. FIL Ltd lifted its position in Nuance Communications by 5.6% during the first quarter. FIL Ltd now owns 4,609,355 shares of the software maker’s stock valued at $72,597,000 after purchasing an additional 243,866 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in Nuance Communications during the first quarter valued at approximately $50,579,000. RGM Capital LLC bought a new stake in Nuance Communications during the second quarter valued at approximately $42,251,000. Finally, Dimensional Fund Advisors LP lifted its position in Nuance Communications by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,674,334 shares of the software maker’s stock valued at $37,132,000 after purchasing an additional 290,853 shares during the last quarter. Hedge funds and other institutional investors own 88.72% of the company’s stock.

In other Nuance Communications news, insider Daniel David Tempesta sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $16.30, for a total value of $122,250.00. Following the completion of the transaction, the insider now owns 332,883 shares of the company’s stock, valued at approximately $5,425,992.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Weideman sold 16,675 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $17.35, for a total value of $289,311.25. Following the completion of the transaction, the insider now directly owns 420,419 shares of the company’s stock, valued at approximately $7,294,269.65. The disclosure for this sale can be found here. In the last three months, insiders sold 52,025 shares of company stock valued at $877,141. 1.24% of the stock is owned by insiders.

Several brokerages have issued reports on NUAN. Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. ValuEngine raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Standpoint Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, Barclays lifted their price target on shares of Nuance Communications from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.57.

NASDAQ:NUAN traded up $0.22 during trading hours on Friday, hitting $16.85. The company had a trading volume of 2,094,771 shares, compared to its average volume of 2,647,624. Nuance Communications Inc. has a 52 week low of $12.18 and a 52 week high of $18.75. The stock has a market cap of $4.97 billion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 1.94 and a beta of 0.75. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.32.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Wednesday, August 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.27. Nuance Communications had a negative net margin of 9.55% and a positive return on equity of 9.67%. The company had revenue of $502.89 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the previous year, the business posted $0.30 EPS. Nuance Communications’s revenue was up 3.4% compared to the same quarter last year. On average, analysts expect that Nuance Communications Inc. will post 0.75 EPS for the current fiscal year.

Nuance Communications announced that its board has approved a stock buyback plan on Wednesday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the software maker to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Nuance Communications Company Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; 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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Institutional Ownership by Quarter for Nuance Communications (NASDAQ:NUAN)

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