Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in AudioCodes Ltd. (NASDAQ:AUDC)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,287 shares of the communications equipment provider’s stock after purchasing an additional 9,150 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of AudioCodes worth $893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in AudioCodes in the 3rd quarter valued at approximately $1,618,000. Marshall Wace LLP lifted its position 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 acquiring an additional 7,009 shares during the period. XTX Topco Ltd acquired a new stake in shares of AudioCodes during the 2nd quarter valued at approximately $143,000. Y.D. More Investments Ltd acquired a new stake in shares of AudioCodes during the 2nd quarter valued at approximately $1,123,000. Finally, Taylor Frigon Capital Management LLC lifted its position in shares of AudioCodes by 85.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 441,878 shares of the communications equipment provider’s stock valued at $4,587,000 after acquiring an additional 203,399 shares during the period. Hedge funds and other institutional investors own 68.05% of the company’s stock.

AudioCodes Price Performance

Shares of AudioCodes stock opened at $9.10 on Thursday. AudioCodes Ltd. has a 1 year low of $7.70 and a 1 year high of $14.45. The company has a market capitalization of $275.00 million, a P/E ratio of 22.75 and a beta of 0.86. The business has a 50 day moving average price of $9.15 and a 200 day moving average price of $9.94.

Wall Street Analysts Forecast Growth

AUDC has been the subject of a number of research reports. StockNews.com downgraded shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. Barclays reduced their price target on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. Finally, Needham & Company LLC reduced their price target on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

AudioCodes 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.