Levin Capital Strategies L.P. Takes Position in Nuance Communications Inc. (NUAN)

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Levin Capital Strategies L.P. acquired a new stake in Nuance Communications Inc. (NASDAQ:NUAN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 27,500 shares of the software maker’s stock, valued at approximately $433,000.

Other large investors have also made changes to their positions in the company. Bristol John W & Co. Inc. NY acquired a new position in shares of Nuance Communications in the 1st quarter valued at about $138,000. Signition LP acquired a new position in shares of Nuance Communications in the 1st quarter valued at about $167,000. A.R.T. Advisors LLC acquired a new position in shares of Nuance Communications in the 1st quarter valued at about $184,000. TLP Group LLC lifted its stake in shares of Nuance Communications by 3,281.5% in the 1st quarter. TLP Group LLC now owns 14,067 shares of the software maker’s stock valued at $222,000 after purchasing an additional 13,651 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in shares of Nuance Communications in the 4th quarter valued at about $259,000. 85.58% of the stock is currently owned by institutional investors.

Nuance Communications opened at $14.44 on Thursday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market cap of $4.22 billion, a P/E ratio of 24.07, a PEG ratio of 1.70 and a beta of 0.64. Nuance Communications Inc. has a fifty-two week low of $12.18 and a fifty-two week high of $19.07.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Wednesday, May 9th. The software maker reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $518.31 million for the quarter, compared to the consensus estimate of $516.43 million. Nuance Communications had a positive return on equity of 9.42% and a negative net margin of 10.32%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. equities research analysts forecast that Nuance Communications Inc. will post 0.7 earnings per share for the current year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Nuance Communications from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub raised Nuance Communications from a “sell” rating to a “hold” rating in a research note on Friday, June 15th. ValuEngine downgraded Nuance Communications from a “sell” rating to a “strong sell” rating in a research note on Friday, May 11th. Craig Hallum dropped their price target on Nuance Communications from $24.00 to $17.00 and set an “in-line” rating on the stock in a research note on Thursday, May 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 price target (down from $18.00) on shares of Nuance Communications in a research note on Thursday, May 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Nuance Communications has an average rating of “Buy” and an average price target of $20.00.

In other Nuance Communications news, Director Mark R. Laret sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $13.98, for a total transaction of $209,700.00. Following the completion of the sale, the director now directly owns 79,047 shares of the company’s stock, valued at approximately $1,105,077.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.67% of the company’s stock.

About Nuance Communications

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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