Nordea Investment Management AB acquired a new stake in shares of AudioCodes Ltd. (NASDAQ:AUDC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 46,300 shares of the communications equipment provider’s stock, valued at approximately $466,000. Nordea Investment Management AB owned approximately 0.16% of AudioCodes at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in AudioCodes by 2.2% during the second quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock valued at $1,646,000 after acquiring an additional 4,567 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in AudioCodes by 22.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 31,736 shares of the communications equipment provider’s stock valued at $319,000 after acquiring an additional 5,801 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in AudioCodes by 40.9% during the third quarter. Campbell & CO Investment Adviser LLC now owns 24,276 shares of the communications equipment provider’s stock valued at $244,000 after acquiring an additional 7,041 shares in the last quarter. Millennium Management LLC grew its stake in AudioCodes by 20.4% during the second quarter. Millennium Management LLC now owns 76,055 shares of the communications equipment provider’s stock valued at $591,000 after acquiring an additional 12,890 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in AudioCodes in the 3rd quarter worth approximately $135,000. 30.62% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. BidaskClub raised shares of AudioCodes from a “hold” rating to a “buy” rating in a research note on Wednesday. Northland Securities set a $7.00 price target on shares of AudioCodes and gave the stock a “hold” rating in a research note on Thursday, December 20th. Finally, ValuEngine cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $9.00.
AUDC stock opened at $11.97 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.97 and a quick ratio of 1.58. AudioCodes Ltd. has a one year low of $6.62 and a one year high of $12.96. The company has a market capitalization of $339.75 million, a price-to-earnings ratio of 24.56 and a beta of 0.40.
AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Tuesday, October 23rd. The communications equipment provider reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.07. AudioCodes had a net margin of 5.61% and a return on equity of 15.90%. The business had revenue of $44.52 million during the quarter.
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AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments; MobilityPLUS, a mobile VoIP solution; VocaNOM call routing products; SmartTAP call recording products; Auto Attendant, a tool for managing inbound calls and delivery services; Fax Server, a tool for managing inbound and outbound enterprise fax transmissions; SIP Phone Support, a value-added application for SBC and gateways; signal processor chips; communications boards; and voice and data logging hardware integration board products.
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