Cubist Systematic Strategies LLC Lowers Stock Position in AudioCodes Ltd. (NASDAQ:AUDC)

Cubist Systematic Strategies LLC lessened its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,594 shares of the communications equipment provider’s stock after selling 3,162 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in AudioCodes were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in AudioCodes by 151.8% in the 4th quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 2,185 shares in the last quarter. R Squared Ltd purchased a new stake in shares of AudioCodes during the 4th quarter worth approximately $97,000. Norges Bank purchased a new stake in shares of AudioCodes during the 4th quarter worth approximately $120,000. Jane Street Group LLC purchased a new stake in shares of AudioCodes during the 4th quarter worth approximately $406,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of AudioCodes by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider’s stock worth $509,000 after acquiring an additional 1,419 shares in the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.

AudioCodes Price Performance

Shares of AudioCodes stock opened at $8.70 on Monday. AudioCodes Ltd. has a 1 year low of $7.70 and a 1 year high of $12.72. The company has a market capitalization of $258.22 million, a P/E ratio of 17.40 and a beta of 0.94. The business has a 50 day moving average price of $9.25 and a 200 day moving average price of $9.75.

Analysts Set New Price Targets

Several brokerages have recently commented on AUDC. StockNews.com lowered AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 7th. Barclays boosted their price target on AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $12.50 price objective on shares of AudioCodes in a research report on Wednesday, May 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.