JPMorgan Chase & Co. Increases Holdings in AudioCodes Ltd. (NASDAQ:AUDC)

JPMorgan Chase & Co. grew its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 95.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 104,037 shares of the communications equipment provider’s stock after buying an additional 50,704 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.34% of AudioCodes worth $1,012,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in AudioCodes in the second quarter worth $143,000. Marshall Wace LLP lifted its position 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 worth $267,000 after purchasing an additional 7,009 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of AudioCodes during the 3rd quarter valued at about $1,618,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of AudioCodes by 11.1% during the third 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 raised its stake in AudioCodes by 1.5% in the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after buying an additional 37,080 shares in the last quarter. 68.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AUDC shares. StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of AudioCodes in a research report on Tuesday, January 21st. Finally, Barclays reduced their target price on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th.

AudioCodes Stock Performance

Shares of AUDC stock opened at $10.86 on Friday. The company has a market capitalization of $328.19 million, a price-to-earnings ratio of 27.15 and a beta of 0.81. AudioCodes Ltd. has a one year low of $7.70 and a one year high of $14.45. The company’s 50-day moving average is $9.67 and its 200 day moving average is $9.84.

About AudioCodes

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.