Nuance Communications Inc. (NUAN) Short Interest Down 20.4% in September
Nuance Communications Inc. (NASDAQ:NUAN) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 7,969,075 shares, a decrease of 20.4% from the September 15th total of 10,010,148 shares. Based on an average daily trading volume, of 2,176,626 shares, the days-to-cover ratio is presently 3.7 days. Currently, 2.9% of the company’s stock are sold short.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 13.77 on Friday. The stock’s market capitalization is $3.85 billion. Nuance Communications has a 12-month low of $13.62 and a 12-month high of $21.83. The stock has a 50 day moving average price of $14.47 and a 200 day moving average price of $16.10.
Nuance Communications (NASDAQ:NUAN) last released its quarterly earnings data on Monday, August 8th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Nuance Communications had a positive return on equity of 14.07% and a negative net margin of 2.15%. The company had revenue of $484.90 million for the quarter, compared to analyst estimates of $489.54 million. During the same period last year, the company posted $0.32 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities analysts anticipate that Nuance Communications will post $1.51 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on NUAN. Zacks Investment Research raised Nuance Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $26.00 price target on shares of Nuance Communications in a research report on Thursday, August 11th. Barclays PLC set a $19.00 price target on Nuance Communications and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Finally, Deutsche Bank AG dropped their price target on Nuance Communications from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Nuance Communications has a consensus rating of “Buy” and an average price target of $22.22.
In other news, VP Adam Bruce Bowden sold 4,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.45, for a total transaction of $57,800.00. Following the transaction, the vice president now owns 178,195 shares of the company’s stock, valued at approximately $2,574,917.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUAN. Aperio Group LLC raised its position in Nuance Communications by 243.0% in the first quarter. Aperio Group LLC now owns 53,357 shares of the company’s stock valued at $997,000 after buying an additional 37,800 shares during the period. TIAA CREF Investment Management LLC raised its position in Nuance Communications by 27.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,618,885 shares of the company’s stock valued at $30,257,000 after buying an additional 347,283 shares during the period. Teachers Advisors Inc. raised its position in Nuance Communications by 15.6% in the first quarter. Teachers Advisors Inc. now owns 1,026,717 shares of the company’s stock valued at $19,189,000 after buying an additional 138,207 shares during the period. Menta Capital LLC bought a new position in Nuance Communications during the first quarter valued at approximately $434,000. Finally, Canada Pension Plan Investment Board raised its position in Nuance Communications by 32.8% in the first quarter. Canada Pension Plan Investment Board now owns 917,726 shares of the company’s stock valued at $17,152,000 after buying an additional 226,600 shares during the period. 85.18% of the stock is currently owned by institutional investors.
About Nuance Communications
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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