Alambic Investment Management L.P. Invests $2.12 Million in Nuance Communications Inc. (NUAN) Stock

Alambic Investment Management L.P. purchased a new stake in Nuance Communications Inc. (NASDAQ:NUAN) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 134,300 shares of the software maker’s stock, valued at approximately $2,115,000.

A number of other large investors have also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its position in Nuance Communications by 5.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,265,000 shares of the software maker’s stock valued at $19,924,000 after buying an additional 65,000 shares in the last quarter. First Mercantile Trust Co. boosted its position in Nuance Communications by 93.3% in the first quarter. First Mercantile Trust Co. now owns 28,561 shares of the software maker’s stock valued at $450,000 after buying an additional 13,787 shares in the last quarter. 12th Street Asset Management Company LLC boosted its position in Nuance Communications by 23.6% in the first quarter. 12th Street Asset Management Company LLC now owns 2,391,602 shares of the software maker’s stock valued at $37,668,000 after buying an additional 457,414 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Nuance Communications by 3.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,239,818 shares of the software maker’s stock valued at $19,528,000 after buying an additional 40,424 shares in the last quarter. Finally, Eaton Vance Management acquired a new position in Nuance Communications in the first quarter valued at about $1,035,000. Hedge funds and other institutional investors own 88.05% of the company’s stock.

NUAN has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Nuance Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Morgan Stanley set a $20.00 price target on shares of Nuance Communications and gave the company a “buy” rating in a research report on Thursday, March 22nd. ValuEngine lowered shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, May 11th. Oppenheimer restated a “buy” rating and issued a $23.00 price target on shares of Nuance Communications in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.

Shares of Nuance Communications opened at $13.14 on Friday, MarketBeat.com reports. Nuance Communications Inc. has a 1 year low of $12.61 and a 1 year high of $12.78. The company has a market cap of $3.77 billion, a PE ratio of 21.90, a P/E/G ratio of 1.52 and a beta of 0.66. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.22.

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

About Nuance Communications

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.

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

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