State of New Jersey Common Pension Fund D Sells 14,048 Shares of AudioCodes Ltd. (NASDAQ:AUDC)

State of New Jersey Common Pension Fund D reduced its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,342 shares of the communications equipment provider’s stock after selling 14,048 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AudioCodes were worth $305,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AUDC. BNP Paribas Financial Markets boosted its position in shares of AudioCodes by 15.3% in the first quarter. BNP Paribas Financial Markets now owns 94,563 shares of the communications equipment provider’s stock valued at $1,233,000 after acquiring an additional 12,541 shares during the period. Trexquant Investment LP increased its position in AudioCodes by 21.0% during the fourth quarter. Trexquant Investment LP now owns 73,827 shares of the communications equipment provider’s stock worth $891,000 after acquiring an additional 12,835 shares during the period. ARK Investment Management LLC raised its stake in AudioCodes by 9.5% during the 2nd quarter. ARK Investment Management LLC now owns 202,182 shares of the communications equipment provider’s stock valued at $2,099,000 after purchasing an additional 17,589 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AudioCodes by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock valued at $551,000 after purchasing an additional 5,389 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in AudioCodes in the 4th quarter worth $166,000. 68.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of AudioCodes in a research report on Wednesday, July 31st.

AudioCodes Stock Up 4.4 %

AudioCodes stock opened at $9.75 on Thursday. The stock has a 50-day simple moving average of $10.34 and a 200 day simple moving average of $10.78. The stock has a market capitalization of $295.66 million, a price-to-earnings ratio of 27.08 and a beta of 0.87. AudioCodes Ltd. has a 12-month low of $7.14 and a 12-month high of $14.45.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11. AudioCodes had a return on equity of 10.42% and a net margin of 5.61%. The firm had revenue of $60.30 million for the quarter, compared to analyst estimates of $59.93 million. As a group, sell-side analysts anticipate that AudioCodes Ltd. will post 0.67 EPS for the current year.

AudioCodes Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.18 dividend. This represents a dividend yield of 3.3%. The ex-dividend date was Thursday, August 15th. AudioCodes’s dividend payout ratio (DPR) is currently 100.00%.

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.