AudioCodes (NASDAQ:AUDC) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a strong-buy rating in a report issued on Monday morning.

Several other equities research analysts also recently issued reports on AUDC. Barclays lowered their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. Needham & Company LLC cut their price target on AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

AudioCodes Price Performance

NASDAQ:AUDC opened at $9.24 on Monday. The business’s 50-day simple moving average is $9.13 and its 200-day simple moving average is $9.88. AudioCodes has a fifty-two week low of $7.70 and a fifty-two week high of $14.45. The stock has a market capitalization of $279.21 million, a PE ratio of 23.10 and a beta of 0.84.

Institutional Trading of AudioCodes

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in AudioCodes by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock worth $551,000 after acquiring an additional 5,389 shares in the last quarter. Marshall Wace LLP raised its stake in shares of AudioCodes by 37.5% during 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 in the last quarter. DGS Capital Management LLC boosted its holdings in shares of AudioCodes by 72.8% in the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 9,133 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AudioCodes by 11.1% in 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 in the last quarter. Finally, XTX Topco Ltd acquired a new position in AudioCodes during the second quarter worth $143,000. Institutional investors own 68.05% of the company’s stock.

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.