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Carl Icahn Adds To Stake in Nuance Communications Inc. (NUAN)

Billionaire Carl Icahn has upped its stake in Nuance Communications Inc. (NASDAQ:NUAN) a little bit higher, a filing with the SEC showed. Mr. Icahn has acquired 50,900 shares, raising his total holding to almost 60.8 million. The stock was bought in one transaction, at the price of $14.2 per share.


Currently, Mr. Icahn owns 19.3% of the company’s outstanding stock. The billionaire has been bullish on the company for a couple of months now. Overall, in several deals, Icahn has raised the position from 52.4 million shares owned at the end of September, as revealed in the latest 13F filing. Icahn initiated a stake in the company during the first quarter, and reported owning just around 3.8 million held at the end of March.

In the fiscal 2013, Nuance’s earnings tanked and the company reported a net loss of $115.2 million, or $0.37 per share, versus an income of $207.1 million posted during the previous fiscal year. The company also had cash and marketable securities worth $846.8 million at the end of its fiscal 2013, and it bought back over 9.8 million shares of its common stock. The stock of Nuance lost over 34% since the beginning of the year.

Nuance is a company engaged in development of voice and language solutions software. One of its creations is the virtual assistant SIRI present on Apple Inc. (NASDAQ:AAPL)’s iPhone and iPad. Earlier, some rumors speculated that Mr. Icahn’s “bulishness” on the company is explained by his intentions to pursue Apple (in which he also holds a significant stake) into buying Nuance.

In addition to Nuance, a couple of days ago, Mr. Icahn has raised the stake in his company, Icahn Enterprises LP (NASDAQ:IEP), currently holding 101.9 million shares, from around 100.4 million owned previously.

Disclosure: none

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