AudioCodes Ltd. (NASDAQ:AUDC – Get Free Report) CFO Niran Baruch sold 1,875 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $9.99, for a total transaction of $18,731.25. Following the completion of the sale, the chief financial officer directly owned 99,375 shares of the company’s stock, valued at approximately $992,756.25. This represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Niran Baruch also recently made the following trade(s):
- On Thursday, August 6th, Niran Baruch sold 1,875 shares of AudioCodes stock. The shares were sold at an average price of $9.95, for a total transaction of $18,656.25.
AudioCodes Stock Performance
Shares of AUDC stock opened at $9.95 on Wednesday. The stock has a market cap of $240.29 million, a PE ratio of 38.27 and a beta of 0.96. The business’s fifty day moving average is $9.64 and its 200-day moving average is $8.83. AudioCodes Ltd. has a 1 year low of $6.95 and a 1 year high of $10.86.
AudioCodes Announces Dividend
The firm also recently announced a dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be issued a $0.20 dividend. This represents a dividend yield of 398.0%. The ex-dividend date is Wednesday, August 19th. AudioCodes’s payout ratio is presently 153.85%.
Analysts Set New Price Targets
Several research firms have issued reports on AUDC. Weiss Ratings upgraded shares of AudioCodes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Wall Street Zen raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.
Get Our Latest Report on AudioCodes
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Heartland Advisors Inc. raised its stake in shares of AudioCodes by 15.8% during the 1st quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider’s stock worth $8,122,000 after purchasing an additional 131,934 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in AudioCodes by 12.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock valued at $6,209,000 after acquiring an additional 82,016 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in AudioCodes by 16.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 313,151 shares of the communications equipment provider’s stock valued at $2,734,000 after acquiring an additional 44,073 shares during the last quarter. Millennium Management LLC grew its position in AudioCodes by 101.6% in the fourth quarter. Millennium Management LLC now owns 284,951 shares of the communications equipment provider’s stock worth $2,488,000 after acquiring an additional 143,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of AudioCodes by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 262,824 shares of the communications equipment provider’s stock worth $2,295,000 after purchasing an additional 10,056 shares during the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.
About AudioCodes
AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.
Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.
See Also
- Five stocks we like better than AudioCodes
- Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be
- NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings
- Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for AudioCodes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AudioCodes and related companies with MarketBeat.com's FREE daily email newsletter.
