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Nuance Communications Inc. (Nasdaq: NUAN) CEO Paul Ricci sold nearly $1.3 million worth of company shares last Thursday after a jump in the stock price.
The Burlington-based firm, a maker of speech recognition software, saw shares close up 4 percent for the day on Thursday after Nuance forecast better-than-expected revenue for its quarter ended March 31.
Ricci sold 62,500 shares for $1.25 million on that day through a pre-arranged trading plan, according to a filing with the U.S. Securities and Exchange Commission.
Nuance had said its preliminary forecast for the quarter is for revenue of $316 million and $319 million, compared to the previous guidance of between $304 million and $316 million. The results for the quarter, the company’s fiscal second quarter, will be released May 10.
Last week, the company appointed Bill Nelson as the new executive vice president for worldwide sales. Steve Chambers, who has been serving both in that position and as chief marketing officer, will continue on as CMO.
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