State of New Jersey Common Pension Fund D Has $853,000 Stock Holdings in AudioCodes Ltd. (NASDAQ:AUDC)

State of New Jersey Common Pension Fund D raised its position in AudioCodes Ltd. (NASDAQ:AUDCGet Rating) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,117 shares of the communications equipment provider’s stock after buying an additional 709 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AudioCodes were worth $853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. grew its holdings in AudioCodes by 3.9% in the 2nd quarter. Cibc World Market Inc. now owns 13,300 shares of the communications equipment provider’s stock valued at $293,000 after buying an additional 500 shares in the last quarter. State Street Corp grew its holdings in shares of AudioCodes by 4.7% during the 1st quarter. State Street Corp now owns 17,629 shares of the communications equipment provider’s stock worth $450,000 after purchasing an additional 785 shares in the last quarter. Alpha Paradigm Partners LLC grew its holdings in shares of AudioCodes by 6.2% during the 2nd quarter. Alpha Paradigm Partners LLC now owns 20,206 shares of the communications equipment provider’s stock worth $445,000 after purchasing an additional 1,174 shares in the last quarter. Raymond James & Associates grew its holdings in shares of AudioCodes by 8.0% during the 3rd quarter. Raymond James & Associates now owns 17,062 shares of the communications equipment provider’s stock worth $372,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of AudioCodes by 9.6% during the 1st quarter. Bank of New York Mellon Corp now owns 16,890 shares of the communications equipment provider’s stock worth $432,000 after purchasing an additional 1,486 shares in the last quarter. 44.42% of the stock is owned by institutional investors and hedge funds.

AudioCodes Stock Up 0.1 %

NASDAQ:AUDC opened at $18.72 on Monday. The stock’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $20.54. The firm has a market capitalization of $592.23 million, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. AudioCodes Ltd. has a twelve month low of $16.79 and a twelve month high of $31.59.

AudioCodes (NASDAQ:AUDCGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The communications equipment provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $69.72 million during the quarter, compared to analyst estimates of $70.37 million. AudioCodes had a net margin of 10.41% and a return on equity of 16.72%. On average, analysts anticipate that AudioCodes Ltd. will post 0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AUDC has been the topic of several analyst reports. StockNews.com initiated coverage on AudioCodes in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. TheStreet lowered AudioCodes from a “b-” rating to a “c+” rating in a report on Tuesday, October 11th. Finally, Needham & Company LLC reduced their price objective on AudioCodes from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.60.

About AudioCodes

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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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