AudioCodes (NASDAQ:AUDC) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of AudioCodes (NASDAQ:AUDC) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Other equities analysts have also recently issued reports about the company. Barclays lowered their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday. Needham & Company LLC reduced 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.

AudioCodes Trading Down 3.2 %

NASDAQ AUDC traded down $0.27 on Thursday, reaching $8.08. 61,455 shares of the company were exchanged, compared to its average volume of 78,421. AudioCodes has a fifty-two week low of $7.70 and a fifty-two week high of $14.45. The stock has a market capitalization of $244.15 million, a P/E ratio of 20.60 and a beta of 0.86. The business’s fifty day moving average price is $9.48 and its 200 day moving average price is $10.13.

Hedge Funds Weigh In On AudioCodes

A number of hedge funds have recently modified their holdings of AUDC. BNP Paribas Financial Markets lifted its holdings in shares of 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. raised its holdings in AudioCodes by 1.6% during the first quarter. Heartland Advisors Inc. now owns 838,400 shares of the communications equipment provider’s stock worth $10,933,000 after purchasing an additional 13,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in AudioCodes by 2.8% during the first quarter. Vanguard Group Inc. now owns 852,899 shares of the communications equipment provider’s stock worth $11,122,000 after purchasing an additional 23,104 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in AudioCodes in the first quarter valued at about $159,000. Finally, Quadrature Capital Ltd boosted its holdings in AudioCodes by 26.8% in the 1st quarter. Quadrature Capital Ltd now owns 17,460 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 3,691 shares in the last quarter. 68.05% of the stock is currently owned by hedge funds and other 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.