AudioCodes (NASDAQ:AUDC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of AudioCodes (NASDAQ:AUDC) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Separately, Wall Street Zen downgraded AudioCodes from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AudioCodes presently has a consensus rating of “Hold” and an average price target of $11.25.

AudioCodes Price Performance

Shares of NASDAQ:AUDC opened at $9.52 on Monday. AudioCodes has a 1-year low of $7.70 and a 1-year high of $12.72. The business has a fifty day moving average price of $9.83 and a 200-day moving average price of $9.51. The company has a market capitalization of $273.03 million, a PE ratio of 21.16 and a beta of 0.93.

AudioCodes Dividend Announcement

The firm also recently disclosed a half year 25 dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.20 dividend. This represents a yield of 350.0%. The ex-dividend date was Thursday, August 14th. AudioCodes’s dividend payout ratio (DPR) is presently 88.89%.

Institutional Investors Weigh In On AudioCodes

A number of large investors have recently made changes to their positions in AUDC. Goldman Sachs Group Inc. bought a new stake in shares of AudioCodes during the 1st quarter valued at about $412,000. Trexquant Investment LP grew its stake in shares of AudioCodes by 24.5% during the 1st quarter. Trexquant Investment LP now owns 133,791 shares of the communications equipment provider’s stock valued at $1,260,000 after purchasing an additional 26,316 shares during the period. Heartland Advisors Inc. lifted its position in shares of AudioCodes by 2.5% during the 1st quarter. Heartland Advisors Inc. now owns 880,250 shares of the communications equipment provider’s stock valued at $8,292,000 after buying an additional 21,650 shares in the last quarter. Marshall Wace LLP lifted its position in shares of AudioCodes by 12.3% during the 2nd quarter. Marshall Wace LLP now owns 179,371 shares of the communications equipment provider’s stock valued at $1,761,000 after buying an additional 19,629 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of AudioCodes during the 2nd quarter valued at about $127,000. 68.05% of the stock is currently owned by institutional investors.

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.