5 Stocks to Invest in According to Billionaire Paul Tudor Jones

2. Nuance Communications, Inc. (NASDAQ: NUAN)

Tudor Investment’s Corp Stake Value: $138,449,000
Percent of Tudor Investment Corp’s 13F Portfolio: 2.61%
Number of Hedge Fund Holders: 72

Nuance Communications, Inc. (NASDAQ: NUAN) is an American computer software company that specializes in speech recognition and AI software. Over 10k healthcare organizations worldwide use Nuance Communications, Inc. (NASDAQ: NUAN). It stands second on our list of the best stocks to invest in according to billionaire Paul Tudor Jones.

Tudor Investment Corp holds over 2.5 million shares of Nuance Communications, Inc. (NASDAQ: NUAN), worth $138.4 million. In Q2, the fund increased its position in the company by 6674% and it constitutes 2.61% of the fund’s 13F portfolio. In Q3 2021, Nuance Communications, Inc. (NASDAQ: NUAN) reported an EPS of $0.16 and revenue of $336.6 million, up from 298.6 million during the same period last year. On April 12, the company has entered into an agreement with Microsoft Corporation (NASDAQ: MSFT) to combine solutions to deliver new cloud and AI capabilities across the healthcare industry. Nuance Communications, Inc. (NASDAQ: NUAN) has gained 88.11% in the past year.

In May, JPMorgan lifted its price target on Nuance Communications, Inc. (NASDAQ: NUAN) to $56, with an ‘Equal Weight’ rating on the shares. The number of hedge funds having stakes in Nuance Communications, Inc. (NASDAQ: NUAN) also increased as 72 funds have positions in the company as of Q2 2021, up from 57 in the previous quarter. The total value of these stakes in over $5.5 billion.

ClearBridge Investments recently released its Q2 2021 investor letter and mentioned Nuance Communications, Inc. (NASDAQ: NUAN) in it. Here is what the firm has to say:

“In general, improving growth companies are taking specific actions to enhance their growth profiles going forward, whether through a restructuring, business model change, new management team or more productive use of assets. Another recent example is Nuance Communications, which was simplified and reorganized under new leadership in 2018 and subsequently acquired by Microsoft for a significant premium this quarter. This continues the Strategy’s long track record of positioning successfully to benefit from consolidation, with more than 80 companies having been acquired since inception.”