Nuance Communications Inc. (NASDAQ:NUAN) Sees Significant Increase in Short Interest

Nuance Communications Inc. (NASDAQ:NUAN) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 11,230,000 shares, a growth of 9.7% from the January 15th total of 10,240,000 shares. Based on an average trading volume of 2,742,900 shares, the short-interest ratio is currently 4.1 days. Currently, 4.0% of the company’s shares are sold short.

Several analysts have commented on NUAN shares. TheStreet upgraded shares of Nuance Communications from a “c+” rating to a “b” rating in a report on Wednesday, November 20th. BidaskClub upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a report on Saturday, January 18th. Zacks Investment Research upgraded shares of Nuance Communications from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Thursday. Oppenheimer restated a “buy” rating and set a $23.00 target price on shares of Nuance Communications in a report on Wednesday, December 11th. Finally, ValuEngine downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Nuance Communications has an average rating of “Buy” and a consensus price target of $24.40.

In other Nuance Communications news, EVP Thomas L. Beaudoin sold 12,355 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $17.67, for a total transaction of $218,312.85. Following the sale, the executive vice president now directly owns 269,209 shares in the company, valued at approximately $4,756,923.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Cassity sold 13,656 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $17.51, for a total transaction of $239,116.56. Following the sale, the executive vice president now owns 111,640 shares in the company, valued at $1,954,816.40. The disclosure for this sale can be found here. Insiders sold a total of 51,019 shares of company stock worth $903,569 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP grew its stake in shares of Nuance Communications by 1.9% in the first 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. Cerebellum GP LLC acquired a new stake in Nuance Communications during the 3rd quarter valued at $80,000. Pacer Advisors Inc. lifted its holdings in Nuance Communications by 1.8% during the 3rd quarter. Pacer Advisors Inc. now owns 46,038 shares of the software maker’s stock valued at $751,000 after purchasing an additional 826 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Nuance Communications during the 3rd quarter valued at $231,000. Finally, Meeder Asset Management Inc. lifted its holdings in Nuance Communications by 4.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 65,259 shares of the software maker’s stock valued at $1,064,000 after purchasing an additional 2,804 shares during the last quarter. 90.79% of the stock is owned by institutional investors.

Shares of NUAN traded up $0.18 during mid-day trading on Friday, hitting $23.01. 167,653 shares of the company’s stock were exchanged, compared to its average volume of 3,517,366. The company has a market cap of $6.46 billion, a PE ratio of 27.06, a P/E/G ratio of 9.13 and a beta of 0.94. Nuance Communications has a 52 week low of $14.02 and a 52 week high of $22.90. The company has a 50-day simple moving average of $19.43 and a 200 day simple moving average of $17.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.68.

Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $418.30 million during the quarter, compared to analysts’ expectations of $406.30 million. Nuance Communications had a net margin of 14.02% and a return on equity of 11.42%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. On average, analysts anticipate that Nuance Communications will post 0.5 earnings per share for the current year.

Nuance Communications Company Profile

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.

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