Strategic Global Advisors buys $2.6 Million stake in Nuance Communications (NUAN)

Nuance Communications (NUAN) : Strategic Global Advisors scooped up 69,572 additional shares in Nuance Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 155,921 shares of Nuance Communications which is valued at $2.6 Million.Nuance Communications makes up approximately 1.11% of Strategic Global Advisors’s portfolio.

Other Hedge Funds, Including , Menta Capital added NUAN to its portfolio by purchasing 23,200 company shares during the most recent quarter which is valued at $381,176. Nuance Communications makes up approx 0.05% of Menta Capital’s portfolio.Blackrock Advisors reduced its stake in NUAN by selling 1,607,627 shares or 84.52% in the most recent quarter. The Hedge Fund company now holds 294,365 shares of NUAN which is valued at $4.8 Million. Nuance Communications makes up approx 0.01% of Blackrock Advisors’s portfolio.Oxford Asset Management reduced its stake in NUAN by selling 149,114 shares or 24.51% in the most recent quarter. The Hedge Fund company now holds 459,260 shares of NUAN which is valued at $7.5 Million. Nuance Communications makes up approx 0.28% of Oxford Asset Management’s portfolio.Ftb Advisors boosted its stake in NUAN in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 1,129 shares of Nuance Communications which is valued at $18,549.

Nuance Communications opened for trading at $16.6 and hit $16.705 on the upside on Wednesday, eventually ending the session at $16.65, with a gain of 0.67% or 0.11 points. The heightened volatility saw the trading volume jump to 18,79,269 shares. Company has a market cap of $4,649 M.

On the company’s financial health, Nuance Communications reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.35. The company had revenue of $487.40 million for the quarter, compared to analysts expectations of $490.57 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Nuance Communications. Shares were Reiterated by UBS on May 12, 2016 to “Neutral” and Lowered the Price Target to $ 18 from a previous price target of $19 .Shares were Reiterated by Leerink Partners on May 11, 2016 to “Outperform” and Lowered the Price Target to $ 22 from a previous price target of $23 .Shares were Reiterated by Canaccord Genuity on May 11, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $22 .

Nuance Communications Inc. is a provider of voice and language solutions for businesses and consumers across the world. The Company’s solutions are used in healthcare mobile consumer enterprise customer service and imaging markets. The Company offers accuracy natural language understanding capability domain knowledge and implementation capabilities. The Company’s solutions are based on the Company’s voice and language platform and are used by businesses for tasks and services such as requesting information from a phone-based self-service solution dictating medical records searching the mobile Web by voice entering a destination into a navigation system or working with portable document format (PDF) documents. The Company offers its solutions to its customers in a range of ways including through products hosting professional services and maintenance and support. The Company operates in four segments: Healthcare Mobile and Consumer Enterprise and Imaging.

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