Cadence Design Systems, Inc. (CDNS) Forms $36.15 Double Top; Nuance Communications (NUAN)’s Sentiment Is 0.85

April 3, 2018 - By Danny Collins

Nuance Communications, Inc. (NASDAQ:NUAN) Logo

Cadence Design Systems, Inc. (CDNS) formed double top with $37.96 target or 5.00% above today’s $36.15 share price. Cadence Design Systems, Inc. (CDNS) has $10.23 billion valuation. The stock increased 0.84% or $0.3 during the last trading session, reaching $36.15. About 518,349 shares traded. Cadence Design Systems, Inc. (NASDAQ:CDNS) has risen 14.90% since April 3, 2017 and is uptrending. It has outperformed by 3.35% the S&P500.

Nuance Communications (NUAN) investors sentiment decreased to 0.85 in Q4 2017. It’s down -0.31, from 1.16 in 2017Q3. The ratio worsened, as 140 active investment managers opened new or increased equity positions, while 164 cut down and sold their positions in Nuance Communications. The active investment managers in our database now possess: 236.52 million shares, down from 237.27 million shares in 2017Q3. Also, the number of active investment managers holding Nuance Communications in top ten equity positions increased from 4 to 5 for an increase of 1. Sold All: 68 Reduced: 96 Increased: 87 New Position: 53.

12Th Street Asset Management Company Llc holds 7.93% of its portfolio in Nuance Communications, Inc. for 1.93 million shares. Ivory Investment Management Llc owns 4.49 million shares or 4.2% of their US portfolio. Moreover, Sg Capital Management Llc has 2.9% invested in the company for 887,302 shares. The California-based Harvest Capital Strategies Llc has invested 2.52% in the stock. Mcrae Capital Management Inc, a New Jersey-based fund reported 347,900 shares.

The stock decreased 0.07% or $0.01 during the last trading session, reaching $15.29. About 428,345 shares traded. Nuance Communications, Inc. (NUAN) has declined 7.39% since April 3, 2017 and is downtrending. It has underperformed by 18.94% the S&P500.

Ratings analysis reveals 100% of Nuance Communications’s analysts are positive. Out of 2 Wall Street analysts rating Nuance Communications, 2 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. NUAN was included in 2 notes of analysts from November 18, 2016. The rating was upgraded by Barclays Capital to “Overweight” on Friday, January 6. The stock of Nuance Communications, Inc. (NASDAQ:NUAN) has “Strong Buy” rating given on Friday, November 18 by Raymond James.

Nuance Communications, Inc. provides voice recognition and natural language understanding solutions worldwide. The company has market cap of $4.49 billion. It operates through four divisions: Healthcare, Mobile, Enterprise, and Imaging. It currently has negative earnings. The Healthcare segment offers transcription solutions, which enables physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to accurately capture and document patient care in real-time on various devices; clinical document improvement and coding solutions to ensure patient health information is accurately documented, coded, and evaluated; and diagnostic solutions that allows radiologists to document, collaborate, and share medical images and reports.

Since January 1, 0001, it had 0 buys, and 1 insider sale for $74,912 activity.

Analysts await Nuance Communications, Inc. (NASDAQ:NUAN) to report earnings on May, 8. They expect $0.17 earnings per share, down 46.88% or $0.15 from last year’s $0.32 per share. NUAN’s profit will be $49.93 million for 22.49 P/E if the $0.17 EPS becomes a reality. After $0.19 actual earnings per share reported by Nuance Communications, Inc. for the previous quarter, Wall Street now forecasts -10.53% negative EPS growth.

Among 10 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 5 have Buy rating, 1 Sell and 4 Hold. Therefore 50% are positive. Cadence Design Systems Inc has $50.0 highest and $21 lowest target. $30.60’s average target is -15.35% below currents $36.15 stock price. Cadence Design Systems Inc had 26 analyst reports since July 29, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, August 31 by RBC Capital Markets. The rating was maintained by Needham on Thursday, September 14 with “Hold”. The firm has “Buy” rating by RBC Capital Markets given on Friday, May 26. The firm earned “Buy” rating on Wednesday, July 5 by RBC Capital Markets. The firm has “Buy” rating by Bank of America given on Tuesday, July 25. As per Thursday, October 8, the company rating was initiated by Benchmark. The firm has “Outperform” rating by Northland Capital given on Thursday, November 19. The rating was upgraded by DA Davidson on Monday, October 10 to “Buy”. The firm has “Outperform” rating by Northland Capital given on Tuesday, October 27. RBC Capital Markets maintained Cadence Design Systems, Inc. (NASDAQ:CDNS) on Thursday, February 9 with “Outperform” rating.

Investors sentiment increased to 1.59 in 2017 Q4. Its up 0.23, from 1.36 in 2017Q3. It increased, as 18 investors sold Cadence Design Systems, Inc. shares while 111 reduced holdings. 72 funds opened positions while 133 raised stakes. 235.53 million shares or 0.57% more from 234.20 million shares in 2017Q3 were reported. Amer Century accumulated 253,788 shares. Raymond James & Associate holds 0.01% or 116,255 shares. Acadian Asset Mngmt Ltd Liability Corporation invested in 1.97M shares. Bluecrest Ltd invested in 192,644 shares or 0.22% of the stock. 7,975 were accumulated by Contravisory Management. Manufacturers Life Insurance The reported 0.01% of its portfolio in Cadence Design Systems, Inc. (NASDAQ:CDNS). Sumitomo Mitsui Asset Management Limited reported 1.13 million shares. Cibc World Markets Corp invested in 0.02% or 81,222 shares. Eulav Asset, New York-based fund reported 26,000 shares. Covington Cap Mgmt has invested 0% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Kentucky Retirement Tru Fund stated it has 0.05% in Cadence Design Systems, Inc. (NASDAQ:CDNS). The Maryland-based Chevy Chase Tru Hldgs has invested 0.04% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Toronto Dominion Bancorp accumulated 121,500 shares. Livforsakringsbolaget Skandia Omsesidigt invested 0.02% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Captrust Advsr holds 651 shares or 0% of its portfolio.

Cadence Design Systems, Inc. (NASDAQ:CDNS) Institutional Positions Chart