AudioCodes (NASDAQ:AUDC) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a hold rating in a research report released on Saturday morning.

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

AudioCodes Stock Down 1.2%

AUDC opened at $9.51 on Friday. The stock has a market cap of $282.26 million, a PE ratio of 19.02 and a beta of 0.88. The business has a 50 day moving average of $9.03 and a 200-day moving average of $9.83. AudioCodes has a 52 week low of $7.70 and a 52 week high of $12.72.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AUDC. Jane Street Group LLC purchased a new position in AudioCodes during the fourth quarter worth approximately $406,000. Value Base Ltd. acquired a new stake in shares of AudioCodes in the fourth quarter valued at $19,665,000. Arrowstreet Capital Limited Partnership grew its stake in shares of AudioCodes by 55.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,768 shares of the communications equipment provider’s stock valued at $5,187,000 after buying an additional 188,074 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in AudioCodes by 19.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 190,338 shares of the communications equipment provider’s stock valued at $1,854,000 after purchasing an additional 30,611 shares during the period. Finally, Blue Trust Inc. boosted its holdings in AudioCodes by 151.8% in the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 2,185 shares during the period. 68.05% of the stock is owned by institutional investors and hedge funds.

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.