Nuance Communications Inc. (NASDAQ:NUAN) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 9,150,000 shares, a decrease of 6.9% from the September 30th total of 9,830,000 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,180,000 shares, the short-interest ratio is currently 4.2 days.
A number of equities research analysts have commented on the stock. TheStreet raised shares of Nuance Communications from a “c+” rating to a “b” rating in a research report on Wednesday, November 20th. Wedbush assumed coverage on shares of Nuance Communications in a research report on Friday, September 27th. They issued an “outperform” rating on the stock. BidaskClub raised shares of Nuance Communications from a “strong sell” rating to a “sell” rating in a research report on Saturday. ValuEngine downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Barclays dropped their price objective on shares of Nuance Communications from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.25.
Shares of NASDAQ:NUAN opened at $17.75 on Monday. Nuance Communications has a 52 week low of $12.66 and a 52 week high of $18.16. The company’s 50 day moving average is $15.86 and its two-hundred day moving average is $16.56. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a market cap of $5.00 billion, a PE ratio of 23.36, a P/E/G ratio of 4.15 and a beta of 0.94.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings data on Wednesday, November 20th. The software maker reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.06. Nuance Communications had a net margin of 11.83% and a return on equity of 12.68%. The company had revenue of $471.97 million for the quarter, compared to the consensus estimate of $486.13 million. During the same period in the prior year, the firm posted $0.38 EPS. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Nuance Communications will post 0.84 EPS for the current year.
In related news, EVP Thomas L. Beaudoin sold 8,301 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $16.45, for a total transaction of $136,551.45. Following the sale, the executive vice president now directly owns 273,839 shares of the company’s stock, valued at approximately $4,504,651.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stefan Ortmanns sold 1,491 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $17.50, for a total transaction of $26,092.50. Following the sale, the executive vice president now directly owns 186,041 shares in the company, valued at $3,255,717.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 683,151 shares of company stock worth $11,609,116. 0.68% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of NUAN. First Trust Advisors LP boosted its holdings in shares of Nuance Communications by 1.9% in the 1st quarter. First Trust Advisors LP now owns 40,358 shares of the software maker’s stock valued at $683,000 after buying an additional 766 shares in the last quarter. PFS Investments Inc. acquired a new position in shares of Nuance Communications in the 2nd quarter valued at $358,000. Penbrook Management LLC boosted its holdings in shares of Nuance Communications by 5.9% in the 2nd quarter. Penbrook Management LLC now owns 47,550 shares of the software maker’s stock valued at $759,000 after buying an additional 2,650 shares in the last quarter. Polianta Ltd acquired a new position in shares of Nuance Communications in the 2nd quarter valued at $1,062,000. Finally, Machina Capital S.A.S. acquired a new position in shares of Nuance Communications in the 2nd quarter valued at $371,000. Institutional investors and hedge funds own 88.51% of the company’s stock.
About Nuance Communications
Nuance Communications (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that understand, analyze, and respond to people – amplifying human intelligence to increase productivity and security. With decades of domain and AI expertise, Nuance works with thousands of organizations globally across healthcare, financial services, telecommunications, government, and retail – to create stronger relationships and better experiences for their customers and workforce.
Further Reading: Outstanding Shares and The Effect on Share Price
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