Todd Asset Management Lowers stake in Nuance Communications (NUAN)

Nuance Communications (NUAN) : Todd Asset Management reduced its stake in Nuance Communications by 7.3% during the most recent quarter end. The investment management company now holds a total of 1,468,735 shares of Nuance Communications which is valued at $23,279,450 after selling 115,721 shares in Nuance Communications , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Nuance Communications makes up approximately 0.72% of Todd Asset Management’s portfolio.

Other Hedge Funds, Including , Quadrant Capital Group reduced its stake in NUAN by selling 28 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 1,470 shares of NUAN which is valued at $23,623. Nuance Communications makes up approx 0.02% of Quadrant Capital Group’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in NUAN by selling 5,581 shares or 9.06% in the most recent quarter. The Hedge Fund company now holds 56,026 shares of NUAN which is valued at $900,338. Nuance Communications makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in NUAN by selling 2,781 shares or 9.52% in the most recent quarter. The Hedge Fund company now holds 26,444 shares of NUAN which is valued at $428,128. Alpha Windward added NUAN to its portfolio by purchasing 24,842 company shares during the most recent quarter which is valued at $393,746. Nuance Communications makes up approx 0.28% of Alpha Windward’s portfolio.

Nuance Communications closed down -0.03 points or -0.19% at $15.82 with 21,10,188 shares getting traded on Thursday. Post opening the session at $15.88, the shares hit an intraday low of $15.67 and an intraday high of $15.92 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Nuance Communications reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.35. The company had revenue of $487.40 million for the quarter, compared to analysts expectations of $490.57 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Nuance Communications. Shares were Reiterated by UBS on May 12, 2016 to “Neutral” and Lowered the Price Target to $ 18 from a previous price target of $19 .Shares were Reiterated by Leerink Partners on May 11, 2016 to “Outperform” and Lowered the Price Target to $ 22 from a previous price target of $23 .Shares were Reiterated by Canaccord Genuity on May 11, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $22 .

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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