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

AudioCodes (NASDAQ:AUDC) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

Several other research analysts have also weighed in on AUDC. Barclays dropped their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Needham & Company LLC dropped their price target on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

AudioCodes Stock Performance

NASDAQ:AUDC remained flat at $9.24 on Monday. The company’s stock had a trading volume of 26,438 shares, compared to its average volume of 77,522. The firm has a market capitalization of $279.21 million, a P/E ratio of 23.10 and a beta of 0.84. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45. The firm’s 50-day simple moving average is $9.13 and its 200-day simple moving average is $9.88.

Institutional Trading of AudioCodes

Several large investors have recently added to or reduced their stakes in AUDC. XTX Topco Ltd acquired a new stake in shares of AudioCodes in the 2nd quarter valued at $143,000. DGS Capital Management LLC raised its holdings in AudioCodes by 72.8% during the third 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 in the last quarter. Marshall Wace LLP lifted its position in shares of AudioCodes by 37.5% in the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock worth $267,000 after buying an additional 7,009 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AudioCodes by 11.3% during the 2nd 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. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes during the 3rd quarter valued at about $595,000. 68.05% of the stock is owned by institutional investors.

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.