Insider Selling: Nuance Communications Inc. (NUAN) Insider Sells 7,500 Shares of Stock
Nuance Communications Inc. (NASDAQ:NUAN) insider Daniel David Tempesta sold 7,500 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $18.80, for a total transaction of $141,000.00. Following the completion of the sale, the insider now owns 295,310 shares in the company, valued at approximately $5,551,828. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Nuance Communications Inc. (NASDAQ:NUAN) traded down 0.16% on Wednesday, reaching $18.79. 1,843,430 shares of the company traded hands. Nuance Communications Inc. has a 1-year low of $13.44 and a 1-year high of $19.93. The stock’s market capitalization is $5.41 billion. The stock’s 50-day moving average is $17.80 and its 200-day moving average is $16.51.
Nuance Communications (NASDAQ:NUAN) last announced its earnings results on Tuesday, May 9th. The software maker reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.04. Nuance Communications had a negative net margin of 1.24% and a positive return on equity of 15.22%. The business had revenue of $511.10 million for the quarter, compared to analysts’ expectations of $506.83 million. During the same period in the prior year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Nuance Communications Inc. will post $1.18 EPS for the current year.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Canaccord Genuity reiterated a “buy” rating and issued a $20.00 price objective on shares of Nuance Communications in a research note on Friday, February 3rd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $26.00 price objective on shares of Nuance Communications in a research note on Thursday, February 9th. Citigroup Inc reiterated an “outperform” rating on shares of Nuance Communications in a research note on Wednesday, February 8th. Finally, Barclays PLC increased their price objective on shares of Nuance Communications from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $22.00.
A number of hedge funds have recently made changes to their positions in NUAN. Achmea Investment Management B.V. acquired a new stake in shares of Nuance Communications during the first quarter worth approximately $233,000. Lapides Asset Management LLC acquired a new stake in shares of Nuance Communications during the first quarter worth approximately $1,580,000. HighTower Advisors LLC boosted its stake in shares of Nuance Communications by 1,191.5% in the first quarter. HighTower Advisors LLC now owns 168,182 shares of the software maker’s stock worth $2,922,000 after buying an additional 155,160 shares in the last quarter. Westover Capital Advisors LLC acquired a new stake in shares of Nuance Communications during the first quarter worth approximately $185,000. Finally, Gotham Asset Management LLC raised its position in Nuance Communications by 7.8% in the first quarter. Gotham Asset Management LLC now owns 87,491 shares of the software maker’s stock worth $1,514,000 after buying an additional 6,359 shares during the last quarter. 82.96% of the stock is owned by institutional investors and hedge funds.
About Nuance Communications
Nuance Communications, Inc is a provider of voice recognition and natural language understanding solutions. The Company’s segments include Healthcare, Mobile, Enterprise and Imaging. The Healthcare segment provides clinical speech and clinical language understanding solutions. The solutions for the Healthcare segment include transcription solutions, Dragon Medical, and clinical document improvement (CDI) and coding solutions.
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