Nuance Communications Inc. (NASDAQ:NUAN) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 10,010,148 shares, a drop of 11.1% from the August 31st total of 11,265,504 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily volume of 2,678,164 shares, the days-to-cover ratio is currently 3.7 days.
Shares of Nuance Communications (NASDAQ:NUAN) opened at 14.47 on Thursday. The stock’s 50 day moving average is $14.58 and its 200 day moving average is $16.44. The company’s market capitalization is $4.05 billion. Nuance Communications has a 12 month low of $13.74 and a 12 month high of $21.83.
Nuance Communications (NASDAQ:NUAN) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. Nuance Communications had a negative net margin of 2.15% and a positive return on equity of 14.07%. The firm had revenue of $484.90 million for the quarter, compared to the consensus estimate of $489.54 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Nuance Communications will post $1.51 EPS for the current fiscal year.
In related news, VP Adam Bruce Bowden sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $15.59, for a total value of $93,540.00. Following the sale, the vice president now owns 199,490 shares in the company, valued at $3,110,049.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.23% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. boosted its position in Nuance Communications by 2,113.5% in the second quarter. Macquarie Group Ltd. now owns 115,100 shares of the company’s stock worth $1,799,000 after buying an additional 109,900 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Nuance Communications by 47.8% in the second quarter. Public Employees Retirement System of Ohio now owns 90,775 shares of the company’s stock worth $1,419,000 after buying an additional 29,360 shares in the last quarter. Sterling Capital Management LLC boosted its position in Nuance Communications by 1.2% in the second quarter. Sterling Capital Management LLC now owns 105,060 shares of the company’s stock worth $1,642,000 after buying an additional 1,230 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Nuance Communications by 56.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,553,800 shares of the company’s stock worth $39,938,000 after buying an additional 920,783 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in Nuance Communications during the second quarter worth $773,000. 85.18% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the stock. Deutsche Bank AG decreased 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 upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Oppenheimer Holdings Inc. reiterated 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. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $21.82.
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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