Blue Trust Inc. raised its holdings in AudioCodes Ltd. (NASDAQ:AUDC – Free Report) by 151.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,624 shares of the communications equipment provider’s stock after acquiring an additional 2,185 shares during the period. Blue Trust Inc.’s holdings in AudioCodes were worth $35,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. DGS Capital Management LLC lifted its position in AudioCodes by 72.8% during the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 9,133 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of AudioCodes in the 3rd quarter worth about $595,000. Connor Clark & Lunn Investment Management Ltd. grew its position in AudioCodes by 11.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after acquiring an additional 9,150 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after acquiring an additional 50,704 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of AudioCodes during the 3rd quarter valued at $1,618,000. Institutional investors own 68.05% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on AUDC shares. Barclays boosted their target price on AudioCodes from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, February 5th. Needham & Company LLC increased their price objective on AudioCodes from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th.
AudioCodes Price Performance
NASDAQ AUDC opened at $12.22 on Monday. AudioCodes Ltd. has a 1 year low of $7.70 and a 1 year high of $14.04. The stock has a market capitalization of $369.25 million, a PE ratio of 24.44 and a beta of 0.80. The business’s 50-day moving average is $10.03 and its 200 day moving average is $9.83.
AudioCodes (NASDAQ:AUDC – Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. AudioCodes had a return on equity of 10.47% and a net margin of 6.32%. As a group, equities research analysts anticipate that AudioCodes Ltd. will post 0.7 earnings per share for the current year.
AudioCodes Dividend Announcement
The business also recently announced a semi-annual dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.18 per share. This represents a dividend yield of 3%. The ex-dividend date of this dividend is Thursday, February 20th. AudioCodes’s payout ratio is 72.00%.
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.
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