JPMorgan Chase & Co. Increases Holdings in AudioCodes Ltd. (NASDAQ:AUDC)

JPMorgan Chase & Co. grew its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 95.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,037 shares of the communications equipment provider's stock after purchasing an additional 50,704 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of AudioCodes worth $1,012,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. XTX Topco Ltd acquired a new position in AudioCodes during the second quarter worth about $143,000. DGS Capital Management LLC grew its holdings in shares of AudioCodes by 72.8% in the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider's stock worth $211,000 after acquiring an additional 9,133 shares during the period. Marshall Wace LLP raised its holdings in AudioCodes by 37.5% during the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider's stock worth $267,000 after purchasing an additional 7,009 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes during the third quarter worth $595,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of AudioCodes by 11.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider's stock valued at $893,000 after buying an additional 9,150 shares in the last quarter. 68.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AUDC. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of AudioCodes in a research report on Tuesday, January 21st. Barclays reduced their price target on shares of AudioCodes from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com raised shares of AudioCodes from a "buy" rating to a "strong-buy" rating in a research note on Monday, December 16th.

AudioCodes Stock Performance

AUDC stock traded up $0.02 during trading on Friday, hitting $10.86. The stock had a trading volume of 64,373 shares, compared to its average volume of 100,565. The company's 50 day moving average price is $9.67 and its two-hundred day moving average price is $9.83. The stock has a market cap of $328.19 million, a price-to-earnings ratio of 27.15 and a beta of 0.81. AudioCodes Ltd. has a 1-year low of $7.70 and a 1-year high of $14.45.

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.