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

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Nuance Communications Inc. (NASDAQ:NUAN) saw a large growth in short interest during 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. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is presently 6.8 days. Approximately 4.1% of the shares of the stock are sold short.

Shares of NUAN traded up $0.06 during midday trading on Friday, hitting $17.49. The stock had a trading volume of 1,205,689 shares, compared to its average volume of 1,948,773. Nuance Communications has a fifty-two week low of $12.66 and a fifty-two week high of $18.16. The business has a 50-day simple moving average of $16.74 and a two-hundred day simple moving average of $16.81. 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 current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Nuance Communications had a net margin of 3.88% and a return on equity of 13.93%. The company had revenue of $460.20 million during the quarter, compared to analysts’ expectations of $455.93 million. On average, analysts expect that Nuance Communications will post 0.82 earnings per share for the current fiscal year.

In other Nuance Communications news, EVP Robert Weideman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $16.53, for a total value of $99,180.00. Following the completion of the transaction, the executive vice president now directly owns 432,959 shares in the company, valued at $7,156,812.27. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Beaudoin sold 8,301 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $16.04, for a total transaction of $133,148.04. Following the completion of the transaction, the executive vice president now owns 284,993 shares of the company’s stock, valued at $4,571,287.72. The disclosure for this sale can be found here. Insiders sold a total of 63,884 shares of company stock worth $1,070,509 in the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Nuance Communications by 25.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,127 shares of the software maker’s stock worth $53,000 after purchasing an additional 628 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Nuance Communications by 1.5% during the second quarter. Vestmark Advisory Solutions Inc. now owns 43,104 shares of the software maker’s stock worth $688,000 after purchasing an additional 655 shares during the period. First Trust Advisors LP boosted its holdings in shares of Nuance Communications by 1.9% during the first quarter. First Trust Advisors LP now owns 40,358 shares of the software maker’s stock worth $683,000 after purchasing an additional 766 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Nuance Communications by 24.0% during the second quarter. Pinebridge Investments L.P. now owns 4,645 shares of the software maker’s stock worth $74,000 after purchasing an additional 900 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its holdings in shares of Nuance Communications by 7.3% during the second quarter. Virginia Retirement Systems ET AL now owns 14,700 shares of the software maker’s stock worth $235,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 88.86% of the company’s stock.

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

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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