Investors Purchase Large Volume of Put Options on Nuance Communications (NASDAQ:NUAN)

Nuance Communications Inc. (NASDAQ:NUAN) was the recipient of some unusual options trading on Thursday. Investors acquired 4,829 put options on the stock. This is an increase of 4,136% compared to the typical volume of 114 put options.

Shares of NASDAQ:NUAN traded down $0.32 during trading on Friday, hitting $15.01. 1,227,303 shares of the company traded hands, compared to its average volume of 2,615,750. The firm has a market capitalization of $4,408.42, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.51 and a beta of 0.64. Nuance Communications has a one year low of $14.02 and a one year high of $19.93. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14.

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Nuance Communications (NASDAQ:NUAN) last posted its earnings results on Thursday, February 8th. The software maker reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $508.80 million during the quarter, compared to analyst estimates of $508.55 million. Nuance Communications had a positive return on equity of 11.62% and a negative net margin of 3.76%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. analysts predict that Nuance Communications will post 0.83 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in shares of Nuance Communications by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 18,257,115 shares of the software maker’s stock worth $286,977,000 after buying an additional 637,014 shares during the period. Victory Capital Management Inc. boosted its position in shares of Nuance Communications by 955.0% during the fourth quarter. Victory Capital Management Inc. now owns 6,737,164 shares of the software maker’s stock worth $110,153,000 after buying an additional 6,098,570 shares during the period. Fairpointe Capital LLC boosted its position in shares of Nuance Communications by 1.7% during the fourth quarter. Fairpointe Capital LLC now owns 5,219,722 shares of the software maker’s stock worth $85,343,000 after buying an additional 85,412 shares during the period. Sirios Capital Management L P boosted its position in shares of Nuance Communications by 30.9% during the third quarter. Sirios Capital Management L P now owns 5,015,098 shares of the software maker’s stock worth $78,838,000 after buying an additional 1,183,013 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Nuance Communications by 6.0% during the third quarter. Neuberger Berman Group LLC now owns 4,903,924 shares of the software maker’s stock worth $77,090,000 after buying an additional 277,184 shares during the period. Institutional investors and hedge funds own 85.44% of the company’s stock.

Several analysts recently weighed in on the company. Canaccord Genuity reissued a “buy” rating and issued a $21.00 price objective on shares of Nuance Communications in a report on Monday, January 22nd. BidaskClub lowered Nuance Communications from a “sell” rating to a “strong sell” rating in a report on Saturday. TheStreet raised Nuance Communications from a “d+” rating to a “c-” rating in a report on Wednesday, January 17th. Oppenheimer reissued a “buy” rating and issued a $23.00 price objective on shares of Nuance Communications in a report on Tuesday, January 23rd. Finally, Morgan Stanley set a $20.00 price objective on Nuance Communications and gave the company a “buy” rating in a report on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Nuance Communications presently has a consensus rating of “Buy” and an average price target of $20.75.

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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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