AudioCodes (NASDAQ:AUDC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of AudioCodes (NASDAQ:AUDC) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $12.50 target price on shares of AudioCodes in a research note on Wednesday, May 7th.

AudioCodes Trading Down 1.0%

Shares of AUDC stock opened at $9.35 on Friday. The firm has a 50-day moving average price of $9.15 and a 200 day moving average price of $9.83. AudioCodes has a twelve month low of $7.70 and a twelve month high of $12.72. The company has a market capitalization of $277.51 million, a price-to-earnings ratio of 16.70 and a beta of 0.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AUDC. Value Base Ltd. acquired a new position in shares of AudioCodes during the 4th quarter valued at about $19,665,000. Arrowstreet Capital Limited Partnership increased its stake in shares of AudioCodes by 55.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 527,768 shares of the communications equipment provider’s stock valued at $5,187,000 after acquiring an additional 188,074 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of AudioCodes during the 1st quarter valued at about $412,000. Jane Street Group LLC acquired a new position in shares of AudioCodes during the 4th quarter valued at about $406,000. Finally, Trexquant Investment LP increased its stake in shares of AudioCodes by 41.7% during the 4th quarter. Trexquant Investment LP now owns 107,475 shares of the communications equipment provider’s stock valued at $1,047,000 after acquiring an additional 31,622 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

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.