Bank of New York Mellon Corp raised its position in shares of Avaya Holdings Corp (NYSE:AVYA) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 483,086 shares of the company’s stock after purchasing an additional 17,987 shares during the quarter. Bank of New York Mellon Corp owned 0.44% of Avaya worth $7,034,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVYA. Quantamental Technologies LLC acquired a new stake in Avaya during the 4th quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Avaya by 24.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,585 shares of the company’s stock valued at $110,000 after purchasing an additional 1,506 shares during the period. Water Island Capital LLC acquired a new stake in Avaya during the 4th quarter valued at $135,000. Raymond James Trust N.A. raised its stake in Avaya by 7.9% during the 4th quarter. Raymond James Trust N.A. now owns 11,355 shares of the company’s stock valued at $166,000 after purchasing an additional 832 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Avaya by 1,126.6% during the 4th quarter. Meeder Asset Management Inc. now owns 12,450 shares of the company’s stock valued at $181,000 after purchasing an additional 11,435 shares during the period. 98.70% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on AVYA shares. Goldman Sachs Group started coverage on shares of Avaya in a research note on Monday, December 17th. They issued a “neutral” rating and a $20.00 price target on the stock. Zacks Investment Research raised shares of Avaya from a “sell” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, February 5th. Guggenheim started coverage on shares of Avaya in a research note on Monday, March 11th. They issued a “buy” rating and a $22.00 price target on the stock. Barclays raised shares of Avaya from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $21.00 in a research note on Friday, January 25th. Finally, Morgan Stanley started coverage on shares of Avaya in a research note on Monday, January 7th. They issued an “equal weight” rating and a $18.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Avaya presently has a consensus rating of “Hold” and an average price target of $20.92.

NYSE AVYA opened at $18.74 on Thursday. Avaya Holdings Corp has a 1-year low of $12.89 and a 1-year high of $23.64. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.25 and a current ratio of 1.31. The firm has a market capitalization of $1.91 billion, a PE ratio of 6.10 and a beta of 1.40.

Avaya (NYSE:AVYA) last posted its quarterly earnings results on Monday, February 11th. The company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.09). Avaya had a return on equity of 16.22% and a net margin of 2.08%. The company had revenue of $738.00 million during the quarter, compared to analyst estimates of $761.50 million. On average, sell-side analysts predict that Avaya Holdings Corp will post 3.27 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Avaya Holdings Corp (AVYA) Holdings Increased by Bank of New York Mellon Corp” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.watchlistnews.com/avaya-holdings-corp-avya-holdings-increased-by-bank-of-new-york-mellon-corp/2953921.html.

About Avaya

Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.

Read More: How does inflation affect different investments?

Want to see what other hedge funds are holding AVYA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avaya Holdings Corp (NYSE:AVYA).

Institutional Ownership by Quarter for Avaya (NYSE:AVYA)

Receive News & Ratings for Avaya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avaya and related companies with MarketBeat.com's FREE daily email newsletter.