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.
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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