Stock Traders Purchase Large Volume of Call Options on Nuance Communications (NUAN)
Shares of Nuance Communications (NASDAQ:NUAN) was the recipient of some unusual options trading on Monday. Stock traders acquired 13,332 call options on the stock, American Banking & Market News reports. This is an increase of approximately 293% compared to the typical daily volume of 3,392 call options.
In other Nuance Communications news, CEO Paul Ricci unloaded 250,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $19.00, for a total transaction of $4,750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,776,994 shares in the company, valued at approximately $71,762,886. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
NUAN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Nuance Communications from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, October 2nd. They now have a $18.00 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Nuance Communications from $25.00 to $24.00 in a research note to investors on Thursday, August 8th. Finally, analysts at Wedbush cut their price target on shares of Nuance Communications from $23.00 to $22.00 in a research note to investors on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.47.
Shares of Nuance Communications (NASDAQ:NUAN) traded down 1.12% during mid-day trading on Monday, hitting $18.49. 2,297,832 shares of the company’s stock traded hands. Nuance Communications has a one year low of $17.90 and a one year high of $24.85. The stock’s 50-day moving average is $19.1 and its 200-day moving average is $19.39. The company has a market cap of $5.738 billion and a P/E ratio of 174.77.
Nuance Communications (NASDAQ:NUAN) last released its earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $490.80 million for the quarter, compared to the consensus estimate of $487.64 million. During the same quarter last year, the company posted $0.45 earnings per share. Nuance Communications’s revenue was up 9.5% compared to the same quarter last year.
Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.
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