Separately, BidaskClub upgraded AudioCodes from a hold rating to a buy rating in a research note on Tuesday, November 19th.
Shares of AUDC traded down $0.27 during mid-day trading on Tuesday, hitting $23.57. The stock had a trading volume of 137,410 shares, compared to its average volume of 229,899. The firm has a market cap of $695.53 million, a P/E ratio of 32.84 and a beta of 0.59. The business has a fifty day moving average price of $21.52 and a 200-day moving average price of $18.27. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.79 and a quick ratio of 1.36. AudioCodes has a 52 week low of $9.00 and a 52 week high of $25.04.
AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings results 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. The firm had revenue of $51.41 million for the quarter. AudioCodes had a return on equity of 23.08% and a net margin of 8.66%.
Several hedge funds and other institutional investors have recently bought and sold shares of AUDC. Systematic Financial Management LP lifted its stake in shares of AudioCodes by 228.4% during the 2nd quarter. Systematic Financial Management LP now owns 60,930 shares of the communications equipment provider’s stock valued at $943,000 after buying an additional 42,375 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in shares of AudioCodes during the second quarter worth $635,000. Alpine Woods Capital Investors LLC lifted its position in shares of AudioCodes by 33.3% during the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the communications equipment provider’s stock worth $310,000 after acquiring an additional 5,000 shares in the last quarter. Altshuler Shaham Ltd boosted its holdings in shares of AudioCodes by 22.1% in the second quarter. Altshuler Shaham Ltd now owns 285,252 shares of the communications equipment provider’s stock worth $4,463,000 after acquiring an additional 51,551 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in shares of AudioCodes in the second quarter worth $602,000. 32.53% of the stock is currently owned by institutional investors.
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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