Public Employees Retirement System of Ohio Takes $595,000 Position in AudioCodes Ltd. (NASDAQ:AUDC)

Public Employees Retirement System of Ohio bought a new stake in AudioCodes Ltd. (NASDAQ:AUDC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,195 shares of the communications equipment provider’s stock, valued at approximately $595,000.

A number of other institutional investors have also added to or reduced their stakes in AUDC. XTX Topco Ltd bought a new position in shares of AudioCodes in the 2nd quarter valued at about $143,000. Marshall Wace LLP lifted its stake in AudioCodes by 37.5% in the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after purchasing an additional 7,009 shares during the last quarter. Bank of New York Mellon Corp grew 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 purchasing an additional 5,389 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 worth $893,000 after buying an additional 9,150 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in AudioCodes in the second quarter valued at approximately $1,123,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

AudioCodes Price Performance

Shares of NASDAQ AUDC opened at $9.36 on Friday. The firm has a market cap of $282.83 million, a price-to-earnings ratio of 23.40 and a beta of 0.84. The stock’s fifty day moving average price is $9.11 and its two-hundred day moving average price is $9.85. AudioCodes Ltd. has a one year low of $7.70 and a one year high of $14.45.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Needham & Company LLC dropped their price target on AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Barclays decreased their price target 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.

AudioCodes 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.