AudioCodes (NASDAQ:AUDC) Sees Strong Trading Volume

AudioCodes Ltd. (NASDAQ:AUDC) shares saw an uptick in trading volume on Monday . 19,151 shares were traded during trading, a decline of 93% from the previous session’s volume of 264,192 shares.The stock last traded at $24.04 and had previously closed at $23.42.

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Several brokerages have recently weighed in on AUDC. BidaskClub upgraded AudioCodes from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC boosted their target price on AudioCodes to $20.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, ValuEngine upgraded AudioCodes from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th.

The firm has a market capitalization of $641.86 million, a price-to-earnings ratio of 30.14 and a beta of 0.55. The company has a fifty day moving average price of $19.58 and a two-hundred day moving average price of $17.39. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, October 29th. The communications equipment provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. AudioCodes had a return on equity of 23.08% and a net margin of 8.66%. The firm had revenue of $51.41 million for the quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bogle Investment Management L P DE lifted its holdings in AudioCodes by 116.5% in the second quarter. Bogle Investment Management L P DE now owns 130,778 shares of the communications equipment provider’s stock valued at $2,024,000 after acquiring an additional 70,373 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in AudioCodes by 22.1% in the second quarter. Altshuler Shaham Ltd now owns 285,252 shares of the communications equipment provider’s stock valued at $4,463,000 after acquiring an additional 51,551 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AudioCodes by 0.6% in the second quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock valued at $7,468,000 after acquiring an additional 2,762 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in AudioCodes in the second quarter valued at approximately $602,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in AudioCodes by 7.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 34,114 shares of the communications equipment provider’s stock valued at $645,000 after acquiring an additional 2,378 shares during the last quarter. Hedge funds and other institutional investors own 30.18% of the company’s stock.

AudioCodes Company Profile (NASDAQ:AUDC)

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.

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