Senvest Management LLC Grows Stock Position in AudioCodes Ltd. (NASDAQ:AUDC)

Senvest Management LLC raised its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,580,448 shares of the communications equipment provider’s stock after buying an additional 37,080 shares during the quarter. AudioCodes makes up approximately 0.9% of Senvest Management LLC’s holdings, making the stock its 28th largest holding. Senvest Management LLC owned 8.54% of AudioCodes worth $25,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in AudioCodes during the second quarter worth approximately $143,000. Quadrature Capital Ltd increased its holdings in shares of AudioCodes by 26.8% during the 1st quarter. Quadrature Capital Ltd now owns 17,460 shares of the communications equipment provider’s stock worth $228,000 after buying an additional 3,691 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of AudioCodes by 37.5% during the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock worth $267,000 after buying an additional 7,009 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of AudioCodes in the 1st quarter worth $340,000. Finally, Bank of New York Mellon Corp grew its position 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 valued at $551,000 after acquiring an additional 5,389 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AUDC shares. StockNews.com downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 7th. Barclays cut their price target on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Finally, Needham & Company LLC decreased their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th.

AudioCodes Price Performance

NASDAQ:AUDC opened at $9.14 on Friday. The business’s 50-day moving average is $9.16 and its two-hundred day moving average is $9.95. The firm has a market capitalization of $276.21 million, a PE ratio of 22.85 and a beta of 0.86. AudioCodes Ltd. has a 12 month low of $7.70 and a 12 month high of $14.45.

AudioCodes Company 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.