Icahn Carl C Lowers stake in Nuance Communications (NUAN)

Nuance Communications (NUAN) : Icahn Carl C reduced its stake in Nuance Communications by 9.13% during the most recent quarter end. The investment management company now holds a total of 19,677,088 shares of Nuance Communications which is valued at $282,956,525 after selling 1,976,796 shares in Nuance Communications , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Nuance Communications makes up approximately 1.36% of Icahn Carl C’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al boosted its stake in NUAN in the latest quarter, The investment management firm added 28,374 additional shares and now holds a total of 88,418 shares of Nuance Communications which is valued at $1,271,451. Nuance Communications makes up approx 0.05% of Tudor Investment Corp Et Al’s portfolio.Airain Ltd reduced its stake in NUAN by selling 135,761 shares or 66.48% in the most recent quarter. The Hedge Fund company now holds 68,455 shares of NUAN which is valued at $960,424. Nuance Communications makes up approx 0.06% of Airain Ltd’s portfolio.Oppenheimer Co Inc boosted its stake in NUAN in the latest quarter, The investment management firm added 2,730 additional shares and now holds a total of 33,223 shares of Nuance Communications which is valued at $466,119. Nuance Communications makes up approx 0.01% of Oppenheimer Co Inc’s portfolio.Todd Asset Management reduced its stake in NUAN by selling 262,192 shares or 17.85% in the most recent quarter. The Hedge Fund company now holds 1,206,543 shares of NUAN which is valued at $16,541,705. Nuance Communications makes up approx 0.51% of Todd Asset Management’s portfolio.

Nuance Communications opened for trading at $16.67 and hit $17.47 on the upside on Monday, eventually ending the session at $16.91, with a gain of 8.75% or 1.36 points. The heightened volatility saw the trading volume jump to 1,31,83,021 shares. Company has a market cap of $4,730 M.

On the company’s financial health, Nuance Communications reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 17, 2016. Analyst had a consensus of $0.39. The company had revenue of $512.40 million for the quarter, compared to analysts expectations of $505.06 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Nuance Communications. Nuance Communications was Upgraded by Raymond James to ” Strong Buy” on Nov 18, 2016.

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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