Nuance Communications Sees Unusually Large Options Volume (NUAN)
Nuance Communications, Inc. (NASDAQ:NUAN) was the target of some unusual options trading activity on Wednesday. Stock investors bought 2,440 put options on the company. This represents an increase of 1,352% compared to the average daily volume of 168 put options.
Shares of Nuance Communications (NASDAQ:NUAN) opened at $14.74 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.20 and a quick ratio of 1.20. Nuance Communications has a 1-year low of $14.02 and a 1-year high of $19.93. The stock has a market cap of $4,222.21, a PE ratio of 14.93, a P/E/G ratio of 1.71 and a beta of 0.58.
A number of equities research analysts have recently commented on the stock. Morgan Stanley reiterated a “buy” rating and issued a $18.00 target price on shares of Nuance Communications in a research report on Wednesday. Canaccord Genuity reduced their target price on shares of Nuance Communications from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $23.00 target price (down from $26.00) on shares of Nuance Communications in a research report on Thursday, August 10th. Finally, Deutsche Bank AG reduced their target price on shares of Nuance Communications from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.00.
In other news, EVP Kenneth M. Siegel sold 4,682 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $14.40, for a total value of $67,420.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel David Tempesta sold 6,500 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $15.99, for a total transaction of $103,935.00. Following the completion of the sale, the insider now owns 270,677 shares of the company’s stock, valued at $4,328,125.23. The disclosure for this sale can be found here. Insiders sold 22,364 shares of company stock valued at $347,538 over the last quarter. Company insiders own 1.67% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NUAN. Ameriprise Financial Inc. grew its holdings in shares of Nuance Communications by 15.6% in the second quarter. Ameriprise Financial Inc. now owns 17,620,101 shares of the software maker’s stock valued at $306,763,000 after purchasing an additional 2,383,671 shares during the period. Pictet Asset Management Ltd. grew its holdings in shares of Nuance Communications by 29.4% in the third quarter. Pictet Asset Management Ltd. now owns 5,390,900 shares of the software maker’s stock valued at $84,746,000 after purchasing an additional 1,224,085 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of Nuance Communications in the third quarter valued at about $18,864,000. Sirios Capital Management L P grew its holdings in shares of Nuance Communications by 30.9% in the third quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock valued at $78,838,000 after purchasing an additional 1,183,013 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Nuance Communications by 4,461.1% in the second quarter. American Century Companies Inc. now owns 1,058,903 shares of the software maker’s stock valued at $18,436,000 after purchasing an additional 1,035,687 shares during the period. 86.41% of the stock is owned by hedge funds and other institutional investors.
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Nuance Communications Company Profile
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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