AudioCodes (NASDAQ:AUDC) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of AudioCodes (NASDAQ:AUDC) from a strong-buy rating to a buy rating in a research note released on Tuesday.

AUDC has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of AudioCodes in a report on Tuesday, January 21st. Barclays decreased their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th.

AudioCodes Stock Performance

Shares of AudioCodes stock opened at $10.22 on Tuesday. The stock has a market cap of $308.85 million, a price-to-earnings ratio of 25.55 and a beta of 0.81. The stock has a 50 day moving average price of $9.74 and a 200-day moving average price of $9.82. AudioCodes has a one year low of $7.70 and a one year high of $14.45.

Institutional Trading of AudioCodes

Several large investors have recently added to or reduced their stakes in AUDC. XTX Topco Ltd purchased a new stake in AudioCodes during the 2nd quarter valued at about $143,000. Marshall Wace LLP lifted its holdings in shares of AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 7,009 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of AudioCodes in the 3rd quarter valued at about $1,618,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of AudioCodes by 11.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after buying an additional 9,150 shares during the period. Finally, Senvest Management LLC lifted its holdings in shares of AudioCodes by 1.5% in the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after buying an additional 37,080 shares during the period. Hedge funds and other institutional investors own 68.05% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.