Perigon Wealth Management LLC Increases Position in Nuance Communications Inc. (NASDAQ:NUAN)

Perigon Wealth Management LLC lifted its position in Nuance Communications Inc. (NASDAQ:NUAN) by 9.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,412 shares of the software maker’s stock after purchasing an additional 1,210 shares during the period. Perigon Wealth Management LLC’s holdings in Nuance Communications were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Nuance Communications in the second quarter worth $256,000. Penbrook Management LLC increased its stake in shares of Nuance Communications by 16.6% in the second quarter. Penbrook Management LLC now owns 51,890 shares of the software maker’s stock worth $1,313,000 after purchasing an additional 7,400 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of Nuance Communications by 9.7% in the second quarter. Vident Investment Advisory LLC now owns 673,314 shares of the software maker’s stock worth $17,035,000 after purchasing an additional 59,688 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Nuance Communications in the second quarter worth $276,000. Finally, Columbus Circle Investors grew its stake in Nuance Communications by 19.7% during the second quarter. Columbus Circle Investors now owns 1,879,567 shares of the software maker’s stock valued at $47,562,000 after acquiring an additional 309,021 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

Nuance Communications stock opened at $27.35 on Friday. The firm has a 50-day moving average price of $25.24 and a 200-day moving average price of $21.16. The firm has a market capitalization of $7.69 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 12.16 and a beta of 1.04. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.45. Nuance Communications Inc. has a 12-month low of $13.51 and a 12-month high of $28.00.

Nuance Communications (NASDAQ:NUAN) last released its earnings results on Thursday, May 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Nuance Communications had a net margin of 9.06% and a return on equity of 12.80%. The firm had revenue of $369.55 million during the quarter, compared to analyst estimates of $351.56 million. During the same quarter last year, the business earned $0.29 EPS. The business’s revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Nuance Communications Inc. will post 0.45 earnings per share for the current fiscal year.

In other news, EVP Daniel David Tempesta sold 2,833 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $25.50, for a total transaction of $72,241.50. Following the completion of the sale, the executive vice president now owns 519,770 shares of the company’s stock, valued at $13,254,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Weideman sold 62,698 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $19.03, for a total transaction of $1,193,142.94. Following the sale, the executive vice president now directly owns 512,165 shares of the company’s stock, valued at approximately $9,746,499.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,688 shares of company stock valued at $1,556,045. Company insiders own 0.50% of the company’s stock.

NUAN has been the subject of several research analyst reports. Barclays raised their target price on shares of Nuance Communications from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. BidaskClub raised shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Thursday, July 23rd. Guggenheim initiated coverage on shares of Nuance Communications in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Zacks Investment Research cut shares of Nuance Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Morgan Stanley raised their target price on shares of Nuance Communications from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.17.

Nuance Communications Profile

Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.

Further Reading: Understanding Options Trading

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

Receive News & Ratings for Nuance Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuance Communications and related companies with MarketBeat.com's FREE daily email newsletter.