Simplex Trading adds Nuance Communications (NUAN) to its portfolio

Nuance Communications (NUAN) : Simplex Trading added new position in Nuance Communications during the most recent quarter end. The investment management firm now holds 17,577 shares of Nuance Communications which is valued at $257,152 , the company said in a statement filed on Oct 7, 2016 with the SEC.Nuance Communications makes up approximately 0.03% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in NUAN by selling 49,748 shares or 80.55% in the most recent quarter. The Hedge Fund company now holds 12,010 shares of NUAN which is valued at $175,706. Nuance Communications makes up approx 0.02% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in NUAN in the latest quarter, The investment management firm added 1,562 additional shares and now holds a total of 9,776 shares of Nuance Communications which is valued at $142,534. Washington Trust Bank sold out all of its stake in NUAN during the most recent quarter. The investment firm sold 118 shares of NUAN which is valued $1,720.

Nuance Communications opened for trading at $14.52 and hit $14.68 on the upside on Friday, eventually ending the session at $14.63, with a gain of 0.62% or 0.09 points. The heightened volatility saw the trading volume jump to 13,37,065 shares. Company has a market cap of $4,092 M.

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 Deutsche Bank on Aug 9, 2016 to “Buy” and Lowered the Price Target to $ 25 from a previous price target of $30 .

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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