AudioCodes (NASDAQ:AUDC) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of AudioCodes (NASDAQ:AUDC) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday. Barclays decreased 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.

AudioCodes Stock Down 2.8 %

AUDC stock opened at $8.12 on Thursday. The company has a market cap of $245.39 million, a price-to-earnings ratio of 20.30 and a beta of 0.86. AudioCodes has a twelve month low of $7.70 and a twelve month high of $14.45. The business has a 50 day moving average price of $9.43 and a two-hundred day moving average price of $10.11.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in AudioCodes by 15.3% during the first quarter. BNP Paribas Financial Markets now owns 94,563 shares of the communications equipment provider’s stock worth $1,233,000 after purchasing an additional 12,541 shares during the period. Heartland Advisors Inc. grew its stake in AudioCodes by 1.6% in the 1st quarter. Heartland Advisors Inc. now owns 838,400 shares of the communications equipment provider’s stock valued at $10,933,000 after buying an additional 13,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in AudioCodes by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 852,899 shares of the communications equipment provider’s stock valued at $11,122,000 after acquiring an additional 23,104 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in AudioCodes during the first quarter worth approximately $159,000. Finally, Quadrature Capital Ltd boosted its holdings in shares of AudioCodes by 26.8% during the first quarter. Quadrature Capital Ltd now owns 17,460 shares of the communications equipment provider’s stock worth $228,000 after acquiring an additional 3,691 shares during the period. 68.05% of the stock is owned by institutional investors and hedge funds.

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.