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

Senvest Management LLC increased its position in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 1.5% during the 3rd quarter, according to its most recent 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 period. AudioCodes comprises approximately 0.9% of Senvest Management LLC’s holdings, making the stock its 28th biggest holding. Senvest Management LLC owned about 0.09% of AudioCodes worth $25,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AUDC. XTX Topco Ltd acquired a new stake in shares of AudioCodes during the second quarter valued at about $143,000. Quadrature Capital Ltd boosted its holdings in AudioCodes by 26.8% in the first 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 during the last quarter. Marshall Wace LLP grew its stake in AudioCodes by 37.5% during the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after purchasing an additional 7,009 shares in the last quarter. Tidal Investments LLC purchased a new stake in AudioCodes during the 1st quarter worth approximately $340,000. Finally, Bank of New York Mellon Corp raised its position in shares of AudioCodes by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock valued at $551,000 after purchasing an additional 5,389 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Analyst Ratings Changes

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

AudioCodes Stock Performance

Shares of NASDAQ:AUDC opened at $9.14 on Friday. The company’s fifty day moving average is $9.16 and its two-hundred day moving average is $9.95. AudioCodes Ltd. has a 1-year low of $7.70 and a 1-year high of $14.45. The stock has a market capitalization of $276.21 million, a price-to-earnings ratio of 22.85 and a beta of 0.86.

AudioCodes 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.