State of New Jersey Common Pension Fund D Has $981,000 Holdings in AudioCodes Ltd. (NASDAQ:AUDC)

State of New Jersey Common Pension Fund D lifted its position in shares of AudioCodes Ltd. (NASDAQ:AUDCGet Rating) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,408 shares of the communications equipment provider’s stock after purchasing an additional 9,561 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.12% of AudioCodes worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AUDC. Covestor Ltd acquired a new stake in shares of AudioCodes during the 4th quarter worth approximately $41,000. Paradiem LLC lifted its position in shares of AudioCodes by 7.3% during the 1st quarter. Paradiem LLC now owns 15,735 shares of the communications equipment provider’s stock worth $391,000 after buying an additional 1,072 shares during the period. Capital Asset Advisory Services LLC lifted its position in shares of AudioCodes by 170.4% during the 4th quarter. Capital Asset Advisory Services LLC now owns 17,503 shares of the communications equipment provider’s stock worth $608,000 after buying an additional 11,029 shares during the period. Advisor Group Holdings Inc. lifted its position in shares of AudioCodes by 11.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 28,198 shares of the communications equipment provider’s stock worth $980,000 after buying an additional 2,952 shares during the period. Finally, Cascade Investment Advisors Inc. lifted its position in shares of AudioCodes by 2.6% during the 4th quarter. Cascade Investment Advisors Inc. now owns 35,755 shares of the communications equipment provider’s stock worth $1,242,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 51.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AUDC shares. Barclays cut their target price on AudioCodes from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Tuesday, April 26th. Jefferies Financial Group cut their target price on AudioCodes from $24.00 to $22.00 in a research report on Tuesday. Bank of America downgraded AudioCodes from a “buy” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $25.00 in a research report on Monday, May 2nd. Finally, StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.00.

AudioCodes Price Performance

AUDC stock opened at $21.90 on Friday. The stock has a market capitalization of $695.94 million, a P/E ratio of 23.55, a P/E/G ratio of 2.41 and a beta of 0.65. The business has a 50-day moving average of $22.65 and a 200-day moving average of $24.73. AudioCodes Ltd. has a fifty-two week low of $19.62 and a fifty-two week high of $37.35.

AudioCodes (NASDAQ:AUDCGet Rating) last released its earnings results on Tuesday, August 2nd. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. AudioCodes had a return on equity of 17.16% and a net margin of 11.76%. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts expect that AudioCodes Ltd. will post 1.05 EPS for the current year.

AudioCodes Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, August 16th. This represents a dividend yield of 1.7%. AudioCodes’s dividend payout ratio (DPR) is currently 38.71%.

AudioCodes Profile

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AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace. The company offers solutions, products, and services for unified communications, contact centers, VoiceAI business line, and service provider business. 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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Institutional Ownership by Quarter for AudioCodes (NASDAQ:AUDC)

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