Harvest Capital Strategies LLC increased its position in shares of Nuance Communications Inc. (NASDAQ:NUAN) by 77.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 888,300 shares of the software maker’s stock after buying an additional 388,300 shares during the period. Nuance Communications accounts for 2.5% of Harvest Capital Strategies LLC’s holdings, making the stock its 9th biggest holding. Harvest Capital Strategies LLC owned about 0.30% of Nuance Communications worth $14,524,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NUAN. The Manufacturers Life Insurance Company raised its stake in Nuance Communications by 8.6% during the second quarter. The Manufacturers Life Insurance Company now owns 10,234 shares of the software maker’s stock worth $178,000 after buying an additional 809 shares during the last quarter. Victory Capital Management Inc. raised its stake in Nuance Communications by 11.7% during the third quarter. Victory Capital Management Inc. now owns 638,594 shares of the software maker’s stock worth $10,039,000 after buying an additional 66,711 shares during the last quarter. American Century Companies Inc. grew its holdings in Nuance Communications by 92.1% in the third quarter. American Century Companies Inc. now owns 2,034,146 shares of the software maker’s stock worth $31,977,000 after purchasing an additional 975,243 shares during the period. Boston Partners grew its holdings in Nuance Communications by 40.8% in the third quarter. Boston Partners now owns 154,300 shares of the software maker’s stock worth $2,426,000 after purchasing an additional 44,700 shares during the period. Finally, Swiss National Bank grew its holdings in Nuance Communications by 0.5% in the third quarter. Swiss National Bank now owns 1,065,891 shares of the software maker’s stock worth $16,756,000 after purchasing an additional 5,200 shares during the period. 85.71% of the stock is owned by institutional investors and hedge funds.
NUAN has been the subject of a number of research reports. TheStreet cut shares of Nuance Communications from a “c” rating to a “d+” rating in a report on Tuesday, November 28th. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, December 5th. Morgan Stanley restated a “buy” rating and issued a $18.00 price target on shares of Nuance Communications in a report on Wednesday, November 22nd. Stifel Nicolaus restated a “hold” rating and issued a $18.00 price target (down from $19.00) on shares of Nuance Communications in a report on Wednesday, November 29th. Finally, Oppenheimer restated a “buy” rating and issued a $23.00 price target on shares of Nuance Communications in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.50.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $508.80 million during the quarter, compared to analysts’ expectations of $508.55 million. Nuance Communications had a negative net margin of 3.76% and a positive return on equity of 11.62%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. equities analysts predict that Nuance Communications Inc. will post 0.83 EPS for the current fiscal year.
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Nuance Communications 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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