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Shares of Nuance Communications (NASDAQ:NUAN) were the recipient of a significant drop in short interest during the month of May. As of May 30th, there was short interest totalling 27,355,980 shares, a drop of 7.8% from the May 15th total of 29,669,029 shares, American Banking & Market News reports. Based on an average daily volume of 2,408,036 shares, the short-interest ratio is presently 11.4 days. Currently, 8.9% of the company’s shares are short sold.

A number of research firms have recently commented on NUAN. Analysts at Goldman Sachs cut their price target on shares of Nuance Communications from $15.00 to $14.00 in a research note on Thursday, May 22nd. Separately, analysts at Standpoint Research upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Finally, analysts at Wedbush raised their price target on shares of Nuance Communications from $15.00 to $16.00 in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.63.

Nuance Communications (NASDAQ:NUAN) opened at 18.76 on Tuesday. Nuance Communications has a 52 week low of $13.00 and a 52 week high of $20.01. The stock’s 50-day moving average is $16.17 and its 200-day moving average is $15.63. The company’s market cap is $5.952 billion.

Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Thursday, May 8th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.05. The company had revenue of $475.70 million for the quarter, compared to the consensus estimate of $484.17 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Nuance Communications will post $1.14 earnings per share for the current fiscal year.

Nuance Communications, Inc is a provider of voice and language solutions for businesses and consumers globally.

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