Insider Selling: Nuance Communications CAO Sells $139,200 in Stock (NUAN)
Nuance Communications (NASDAQ:NUAN) CAO Daniel David Tempesta sold 7,500 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $18.56, for a total value of $139,200.00. Following the completion of the sale, the chief accounting officer now directly owns 180,797 shares of the company’s stock, valued at approximately $3,355,592. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.63.
Shares of Nuance Communications (NASDAQ:NUAN) traded up 0.52% during mid-day trading on Wednesday, hitting $19.33. The stock had a trading volume of 4,626,663 shares. Nuance Communications has a one year low of $13.00 and a one year high of $20.01. The stock has a 50-day moving average of $16.26 and a 200-day moving average of $15.68. The company’s market cap is $6.133 billion. Nuance Communications also saw a large decrease in short interest in the month of May. As of May 30th, there was short interest totalling 27,355,980 shares, a decrease of 7.8% from the May 15th total of 29,669,029 shares. Based on an average trading volume of 2,408,036 shares, the short-interest ratio is currently 11.4 days. Currently, 8.9% of the shares of the stock are short sold.
Nuance Communications (NASDAQ:NUAN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.34 earnings per share. Nuance Communications’s revenue was up 1.2% compared to the same quarter last year. 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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