Icahn Carl C Lowers stake in Nuance Communications (NUAN)

Nuance Communications (NUAN) : Icahn Carl C reduced its stake in Nuance Communications by 50.53% during the most recent quarter end. The investment management company now holds a total of 30,068,833 shares of Nuance Communications which is valued at $447,123,547 after selling 30,715,790 shares in Nuance Communications , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Nuance Communications makes up approximately 2.25% of Icahn Carl C’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in NUAN by selling 252,971 shares or 46.86% in the most recent quarter. The Hedge Fund company now holds 286,884 shares of NUAN which is valued at $4,265,965. Nuance Communications makes up approx 0.01% of Allianz Asset Management Ag’s portfolio.Thomas White International Ltd boosted its stake in NUAN in the latest quarter, The investment management firm added 4,900 additional shares and now holds a total of 24,475 shares of Nuance Communications which is valued at $363,943. Nuance Communications makes up approx 0.05% of Thomas White International Ltd’s portfolio.Cwm reduced its stake in NUAN by selling 8,315 shares or 4.97% in the most recent quarter. The Hedge Fund company now holds 158,981 shares of NUAN which is valued at $2,573,902. Nuance Communications makes up approx 0.18% of Cwm’s portfolio.

Nuance Communications opened for trading at $14.55 and hit $14.62 on the upside on Thursday, eventually ending the session at $14.6, with a gain of 0.14% or 0.02 points. The heightened volatility saw the trading volume jump to 22,23,223 shares. Company has a market cap of $4,083 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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