Mcrae Capital Management Inc buys $5,435,758 stake in Nuance Communications (NUAN)

Nuance Communications (NUAN) : Mcrae Capital Management Inc scooped up 11,000 additional shares in Nuance Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 342,950 shares of Nuance Communications which is valued at $5,435,758.Nuance Communications makes up approximately 2.42% of Mcrae Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Boston Private Wealth reduced its stake in NUAN by selling 1,302 shares or 8.49% in the most recent quarter. The Hedge Fund company now holds 14,029 shares of NUAN which is valued at $222,360. Nuance Communications makes up approx 0.01% of Boston Private Wealth’s portfolio.Tocqueville Asset Management reduced its stake in NUAN by selling 100 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 148,700 shares of NUAN which is valued at $2,389,609. Nuance Communications makes up approx 0.03% of Tocqueville Asset Management’s portfolio.Advisory Services Network boosted its stake in NUAN in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 1,771 shares of Nuance Communications which is valued at $28,283. Nuance Communications makes up approx 0.01% of Advisory Services Network’s portfolio.1st Global Advisors boosted its stake in NUAN in the latest quarter, The investment management firm added 2,673 additional shares and now holds a total of 18,785 shares of Nuance Communications which is valued at $304,129. Nuance Communications makes up approx 0.04% of 1st Global Advisors’s portfolio.

Nuance Communications (NUAN) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $16.3 and reached the intraday high at $16.41. The bulls started the profit booking and pushed the shares to intraday low of $16.21. The trading session was marked by a volume range of 34,19,423 shares exchanging hands. The 52-week high of the shares is $21.825 and the 52-week low is $14.37. The market cap of the company stands at $4,551 M and there are 27,92,17,320 shares in public circulation.

On the company’s financial health, Nuance Communications reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.37. The company had revenue of $484.90 million for the quarter, compared to analysts expectations of $489.46 million. The company’s revenue was down -.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 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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