Insider Selling: Nuance Communications Inc. (NUAN) EVP Sells 28,675 Shares of Stock

Nuance Communications Inc. (NASDAQ:NUAN) EVP Robert Weideman sold 28,675 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $17.24, for a total transaction of $494,357.00. Following the completion of the sale, the executive vice president now owns 346,088 shares of the company’s stock, valued at approximately $5,966,557.12. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Robert Weideman also recently made the following trade(s):

  • On Monday, October 1st, Robert Weideman sold 16,675 shares of Nuance Communications stock. The shares were sold at an average price of $17.35, for a total transaction of $289,311.25.
  • On Tuesday, September 4th, Robert Weideman sold 8,350 shares of Nuance Communications stock. The shares were sold at an average price of $16.30, for a total transaction of $136,105.00.

NUAN stock traded down $0.07 during midday trading on Monday, reaching $17.05. The company had a trading volume of 1,358,660 shares, compared to its average volume of 2,583,392. Nuance Communications Inc. has a 1 year low of $12.18 and a 1 year high of $18.75. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.32. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.64 and a beta of 0.80.

Nuance Communications (NASDAQ:NUAN) last released its earnings results on Wednesday, August 8th. The software maker reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. Nuance Communications had a negative net margin of 9.55% and a positive return on equity of 9.67%. The company had revenue of $502.89 million during the quarter, compared to the consensus estimate of $495.53 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts anticipate that Nuance Communications Inc. will post 0.74 EPS for the current year.

Nuance Communications announced that its board has initiated a share repurchase program on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its position in Nuance Communications by 1.3% in the 2nd quarter. Sei Investments Co. now owns 373,792 shares of the software maker’s stock worth $5,191,000 after buying an additional 4,761 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Nuance Communications by 8.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 480,242 shares of the software maker’s stock worth $6,668,000 after buying an additional 36,159 shares in the last quarter. Formula Growth Ltd. lifted its position in Nuance Communications by 15.1% in the 2nd quarter. Formula Growth Ltd. now owns 1,601,000 shares of the software maker’s stock worth $22,230,000 after buying an additional 210,000 shares in the last quarter. Federated Investors Inc. PA lifted its position in Nuance Communications by 61.6% in the 2nd quarter. Federated Investors Inc. PA now owns 581,246 shares of the software maker’s stock worth $8,071,000 after buying an additional 221,567 shares in the last quarter. Finally, Country Trust Bank lifted its position in Nuance Communications by 25.9% in the 2nd quarter. Country Trust Bank now owns 963,152 shares of the software maker’s stock worth $13,373,000 after buying an additional 198,322 shares in the last quarter. Institutional investors own 88.21% of the company’s stock.

Several equities research analysts recently commented on NUAN shares. BidaskClub upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. ValuEngine upgraded shares of Nuance Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Wedbush started coverage on shares of Nuance Communications in a research report on Thursday, October 18th. They issued an “outperform” rating and a $22.00 price target for the company. Standpoint Research downgraded shares of Nuance Communications from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded shares of Nuance Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Nuance Communications currently has an average rating of “Buy” and an average target price of $19.88.

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About Nuance Communications

Nuance Communications, Inc provides voice recognition and natural language understanding solutions worldwide. It operates through four segments: Healthcare, Mobile, Enterprise, and Imaging. The Healthcare segment offers transcription solutions, which enable physicians to streamline clinical documentation with medical transcription platform; Dragon Medical, a dictation software that empowers physicians to capture and document patient care on various devices; clinical document improvement and coding solutions that ensure patient health information; diagnostic solutions that allow radiologists to document, collaborate, and share medical images and reports; and professional and personal productivity solutions to business users and consumers.

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