Nuance Communications Inc. (NUAN) Sees Large Decrease in Short Interest
Nuance Communications Inc. (NASDAQ:NUAN) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 10,010,148 shares, a drop of 11.1% from the August 31st total of 11,265,504 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average daily volume of 2,678,164 shares, the short-interest ratio is presently 3.7 days.
In related news, VP Adam Bruce Bowden sold 6,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $16.03, for a total transaction of $96,180.00. Following the completion of the transaction, the vice president now owns 193,490 shares of the company’s stock, valued at $3,101,644.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.23% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. acquired a new stake in shares of Nuance Communications during the second quarter worth $118,000. BNP Paribas Arbitrage SA boosted its stake in shares of Nuance Communications by 6.0% in the second quarter. BNP Paribas Arbitrage SA now owns 8,214 shares of the company’s stock worth $128,000 after buying an additional 464 shares in the last quarter. Ledyard National Bank boosted its stake in shares of Nuance Communications by 5.1% in the second quarter. Ledyard National Bank now owns 8,230 shares of the company’s stock worth $129,000 after buying an additional 400 shares in the last quarter. MU Investments Co. Ltd. acquired a new stake in shares of Nuance Communications during the second quarter worth $149,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Nuance Communications by 25.1% in the second quarter. LS Investment Advisors LLC now owns 10,189 shares of the company’s stock worth $159,000 after buying an additional 2,044 shares in the last quarter. Institutional investors and hedge funds own 85.18% of the company’s stock.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 14.50 on Friday. The stock’s market cap is $4.06 billion. The stock’s 50 day moving average is $14.57 and its 200-day moving average is $16.39. Nuance Communications has a 1-year low of $13.74 and a 1-year high of $21.83.
Nuance Communications (NASDAQ:NUAN) last issued its earnings results on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The business earned $484.90 million during the quarter, compared to analysts’ expectations of $489.54 million. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Nuance Communications will post $1.51 EPS for the current fiscal year.
Several research analysts recently issued reports on NUAN shares. Barclays PLC set a $19.00 target price on shares of Nuance Communications and gave the stock a “hold” rating in a report on Tuesday, August 9th. Zacks Investment Research raised shares of Nuance Communications from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $26.00 target price on shares of Nuance Communications in a report on Thursday, August 11th. Finally, Deutsche Bank AG reduced their target price on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.82.
Nuance Communications Company Profile
Nuance Communications, Inc is a provider of voice recognition solutions and natural language understanding technologies. The Company operates through four segments: Healthcare, Mobile and Consumer, Enterprise and Imaging. The Healthcare segment is a provider in clinical speech and clinical language understanding solutions.
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