Nuance Communications Inc. (NUAN) Short Interest Down 20.4% in September
Nuance Communications Inc. (NASDAQ:NUAN) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 7,969,075 shares, a decline of 20.4% from the September 15th total of 10,010,148 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 2,176,626 shares, the short-interest ratio is currently 3.7 days.
NUAN has been the topic of a number of recent analyst reports. Deutsche Bank AG dropped their price target on shares of Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Nuance Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 5th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $26.00 price target on shares of Nuance Communications in a research report on Thursday, August 11th. Finally, Barclays PLC set a $19.00 price target on shares of Nuance Communications and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Nuance Communications presently has a consensus rating of “Buy” and a consensus target price of $22.22.
Nuance Communications (NASDAQ:NUAN) opened at 13.77 on Friday. The stock has a 50 day moving average price of $14.47 and a 200 day moving average price of $16.10. Nuance Communications has a 52-week low of $13.62 and a 52-week high of $21.83. The stock’s market cap is $3.85 billion.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $484.90 million for the quarter, compared to the consensus estimate of $489.54 million. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. Nuance Communications’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. Analysts expect that Nuance Communications will post $1.51 EPS for the current fiscal year.
In other news, VP Adam Bruce Bowden sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $16.03, for a total value of $96,180.00. Following the transaction, the vice president now owns 193,490 shares in the company, valued at approximately $3,101,644.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.23% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. purchased a new position in Nuance Communications during the second quarter worth about $118,000. BNP Paribas Arbitrage SA increased its position in 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 during the last quarter. Ledyard National Bank increased its position in 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 during the last quarter. MU Investments Co. Ltd. purchased a new position in Nuance Communications during the second quarter worth about $149,000. Finally, LS Investment Advisors LLC increased its position in 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 during the last quarter. 85.18% of the stock is currently owned by institutional investors.
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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