AudioCodes Ltd. (NASDAQ:AUDC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 11.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 91,287 shares of the communications equipment provider’s stock after acquiring an additional 9,150 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AudioCodes were worth $893,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AUDC. XTX Topco Ltd purchased a new stake in shares of AudioCodes during the 2nd quarter valued at $143,000. Quadrature Capital Ltd grew its stake in shares of AudioCodes by 26.8% during the 1st quarter. Quadrature Capital Ltd now owns 17,460 shares of the communications equipment provider’s stock valued at $228,000 after buying an additional 3,691 shares during the period. Marshall Wace LLP grew its stake in shares of AudioCodes by 37.5% during the 2nd quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 7,009 shares during the period. Tidal Investments LLC purchased a new stake in shares of AudioCodes during the 1st quarter valued at $340,000. Finally, Bank of New York Mellon Corp grew its stake in shares of AudioCodes by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 53,105 shares of the communications equipment provider’s stock valued at $551,000 after buying an additional 5,389 shares during the period. 68.05% of the stock is currently owned by institutional investors and hedge funds.

AudioCodes Trading Down 2.5 %

Shares of AudioCodes stock opened at $9.10 on Thursday. The company has a fifty day moving average price of $9.15 and a 200 day moving average price of $9.94. AudioCodes Ltd. has a twelve month low of $7.70 and a twelve month high of $14.45. The stock has a market cap of $275.00 million, a price-to-earnings ratio of 22.75 and a beta of 0.86.

Analyst Ratings Changes

Several brokerages have recently issued reports on AUDC. StockNews.com cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. Barclays lowered their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, Needham & Company LLC lowered their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th.

About AudioCodes

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.