Meeder Asset Management Inc. boosted its stake in shares of Avaya Holdings Corp (NYSE:AVYA) by 73.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,605 shares of the company’s stock after purchasing an additional 9,155 shares during the period. Meeder Asset Management Inc.’s holdings in Avaya were worth $363,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVYA. Quantamental Technologies LLC purchased a new position in Avaya during the fourth quarter valued at $26,000. Public Employees Retirement System of Ohio lifted its position in shares of Avaya by 57.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,363 shares of the company’s stock valued at $49,000 after acquiring an additional 1,232 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Avaya by 24.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,585 shares of the company’s stock valued at $110,000 after acquiring an additional 1,506 shares in the last quarter. Water Island Capital LLC purchased a new position in shares of Avaya in the fourth quarter valued at about $135,000. Finally, NumerixS Investment Technologies Inc purchased a new position in shares of Avaya in the fourth quarter valued at about $144,000. Institutional investors own 98.68% of the company’s stock.
Shares of AVYA stock opened at $19.30 on Tuesday. Avaya Holdings Corp has a 12-month low of $12.89 and a 12-month high of $23.54. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $2.10 billion, a PE ratio of 6.74 and a beta of 1.40.
Avaya (NYSE:AVYA) last issued its earnings results on Monday, February 11th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.09). Avaya had a return on equity of 16.22% and a net margin of 2.08%. The firm had revenue of $738.00 million during the quarter, compared to the consensus estimate of $761.50 million. As a group, analysts predict that Avaya Holdings Corp will post 3.27 EPS for the current year.
Several equities analysts have recently commented on AVYA shares. Barclays upgraded Avaya from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $21.00 in a research report on Friday, January 25th. Morgan Stanley started coverage on Avaya in a research report on Monday, January 7th. They issued an “equal weight” rating and a $18.50 price objective on the stock. Guggenheim started coverage on Avaya in a research report on Monday, March 11th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research downgraded Avaya from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.92.
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Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.
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