BNP Paribas Financial Markets Lowers Position in AudioCodes Ltd. (NASDAQ:AUDC)

BNP Paribas Financial Markets decreased its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 85,019 shares of the communications equipment provider’s stock after selling 3,787 shares during the period. BNP Paribas Financial Markets’ holdings in AudioCodes were worth $827,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Senvest Management LLC boosted its position in AudioCodes by 1.5% during the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after purchasing an additional 37,080 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted 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 last quarter. Assenagon Asset Management S.A. bought a new stake in shares of AudioCodes in the 3rd quarter valued at about $1,618,000. Marshall Wace LLP grew 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 buying an additional 7,009 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of AudioCodes in the 2nd quarter worth approximately $143,000. Institutional investors own 68.05% of the company’s stock.

Wall Street Analyst Weigh In

AUDC has been the subject of a number of analyst reports. Barclays decreased their target price 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 decreased their price objective on AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th.

AudioCodes Stock Down 0.7 %

AUDC stock opened at $9.40 on Thursday. The stock has a market capitalization of $284.04 million, a PE ratio of 23.50 and a beta of 0.84. AudioCodes Ltd. has a 52 week low of $7.70 and a 52 week high of $14.45. The firm has a 50 day moving average of $9.14 and a 200 day moving average of $9.89.

AudioCodes Company Profile

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.