Nuance Communications Inc. (NASDAQ:NUAN) Sees Large Growth in Short Interest

Nuance Communications Inc. (NASDAQ:NUAN) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 11,469,800 shares, a growth of 25.7% from the July 31st total of 9,127,000 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average trading volume of 1,690,000 shares, the days-to-cover ratio is presently 6.8 days.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush reissued a “buy” rating and issued a $22.00 price target on shares of Nuance Communications in a report on Wednesday, July 24th. ValuEngine lowered shares of Nuance Communications from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, BidaskClub lowered shares of Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Nuance Communications presently has an average rating of “Hold” and an average target price of $19.33.

Nuance Communications stock traded up $0.06 on Friday, hitting $17.49. The company’s stock had a trading volume of 1,205,689 shares, compared to its average volume of 1,948,773. The firm has a market cap of $5.03 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 4.25 and a beta of 0.94. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $16.74 and a 200-day moving average price of $16.81. Nuance Communications has a one year low of $12.66 and a one year high of $18.16.

Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The firm had revenue of $460.20 million for the quarter, compared to analyst estimates of $455.93 million. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. Analysts anticipate that Nuance Communications will post 0.82 EPS for the current year.

In related news, insider Robert Weideman sold 6,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $16.04, for a total transaction of $96,240.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stefan Ortmanns sold 1,491 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 186,041 shares in the company, valued at approximately $3,255,717.50. The disclosure for this sale can be found here. Insiders have sold 63,884 shares of company stock worth $1,070,509 in the last ninety days. 0.68% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nuance Communications by 25.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock valued at $53,000 after purchasing an additional 628 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in shares of Nuance Communications by 1.5% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 43,104 shares of the software maker’s stock valued at $688,000 after purchasing an additional 655 shares in the last quarter. First Trust Advisors LP boosted its stake 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 purchasing an additional 766 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Nuance Communications by 24.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,645 shares of the software maker’s stock valued at $74,000 after purchasing an additional 900 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Nuance Communications by 7.3% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 14,700 shares of the software maker’s stock valued at $235,000 after purchasing an additional 1,000 shares in the last quarter. 88.86% of the stock is currently owned by hedge funds and other institutional investors.

Nuance Communications Company Profile

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through five segments: Healthcare, Automotive, Enterprise, Imaging, and Other. The Healthcare segment offers clinical speech and clinical language understanding solutions, such as Dragon Medical, a dictation software that allow physicians to capture and document patient care in real-time; transcription solutions, which enable physicians to streamline clinical documentation with a transcription platforms; clinical document improvement and coding solutions; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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