Boston Partners Buys Shares of 65,171 AudioCodes Ltd. (NASDAQ:AUDC)

Boston Partners purchased a new position in shares of AudioCodes Ltd. (NASDAQ:AUDC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 65,171 shares of the communications equipment provider’s stock, valued at approximately $787,000. Boston Partners owned about 0.21% of AudioCodes at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Senvest Management LLC increased its stake in AudioCodes by 159.5% during the third quarter. Senvest Management LLC now owns 2,546,011 shares of the communications equipment provider’s stock worth $25,740,000 after acquiring an additional 1,565,039 shares during the last quarter. Acadian Asset Management LLC raised its holdings in AudioCodes by 9.8% in the 3rd quarter. Acadian Asset Management LLC now owns 1,106,660 shares of the communications equipment provider’s stock valued at $11,167,000 after buying an additional 98,938 shares during the period. Heartland Advisors Inc. lifted its position in AudioCodes by 236.0% in the third quarter. Heartland Advisors Inc. now owns 780,500 shares of the communications equipment provider’s stock valued at $7,891,000 after buying an additional 548,200 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in AudioCodes by 13.5% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 240,572 shares of the communications equipment provider’s stock worth $2,904,000 after buying an additional 28,602 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of AudioCodes during the third quarter valued at about $1,253,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AUDC shares. StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Needham & Company LLC decreased their price target on AudioCodes from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Barclays dropped their price objective on AudioCodes from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, May 8th.

AudioCodes Stock Performance

Shares of AUDC stock opened at $9.98 on Friday. The stock has a market capitalization of $302.59 million, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 0.59 and a beta of 0.84. AudioCodes Ltd. has a fifty-two week low of $7.14 and a fifty-two week high of $14.45. The company has a 50 day moving average price of $11.65 and a 200 day moving average price of $11.79.

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.