O Shaughnessy Asset Management LLC Sells 7,545 Shares of Nuance Communications, Inc. (NASDAQ:NUAN)

O Shaughnessy Asset Management LLC reduced its holdings in Nuance Communications, Inc. (NASDAQ:NUAN) by 31.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,210 shares of the software maker’s stock after selling 7,545 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Nuance Communications were worth $882,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allred Capital Management LLC purchased a new position in shares of Nuance Communications during the first quarter worth about $48,000. Red Door Wealth Management LLC bought a new stake in Nuance Communications during the second quarter valued at approximately $54,000. Institutional & Family Asset Management LLC lifted its position in Nuance Communications by 30.5% during the first quarter. Institutional & Family Asset Management LLC now owns 1,293 shares of the software maker’s stock valued at $56,000 after purchasing an additional 302 shares during the last quarter. Barrett Asset Management LLC purchased a new position in Nuance Communications in the 1st quarter worth approximately $90,000. Finally, Quantbot Technologies LP bought a new position in shares of Nuance Communications in the 1st quarter worth $104,000. 85.96% of the stock is currently owned by hedge funds and other institutional investors.

In other Nuance Communications news, EVP Robert Weideman sold 215,838 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $55.06, for a total transaction of $11,884,040.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Nuance Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Nuance Communications presently has an average rating of “Hold” and a consensus price target of $59.00.

NUAN opened at $55.24 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.69 and a quick ratio of 0.69. Nuance Communications, Inc. has a 1 year low of $31.05 and a 1 year high of $55.31. The stock’s 50 day simple moving average is $54.96 and its 200 day simple moving average is $52.00. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of -424.92 and a beta of 1.25.

Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Thursday, August 5th. The software maker reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Nuance Communications had a positive return on equity of 9.04% and a negative net margin of 2.82%. The company had revenue of $336.58 million during the quarter, compared to analysts’ expectations of $334.20 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Nuance Communications, Inc. will post 0.39 EPS for the current year.

Nuance Communications Profile

Nuance Communications, Inc is the pioneer in conversational AI innovations that bring intelligence to everyday work and life. The firm delivers solutions that understand, analyze and respond to people, amplifying human intelligence to increase productivity and security. It operates through the following segments: Healthcare, Enterprise, and Other.

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

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