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Bank of New York Mellon Corp Purchases 31,490 Shares of Avaya Holdings Corp (AVYA)

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Bank of New York Mellon Corp increased its position in Avaya Holdings Corp (NYSE:AVYA) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 465,099 shares of the company’s stock after acquiring an additional 31,490 shares during the quarter. Bank of New York Mellon Corp owned about 0.42% of Avaya worth $10,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Eagle Asset Management Inc. grew its holdings in shares of Avaya by 0.7% during the third quarter. Eagle Asset Management Inc. now owns 604,317 shares of the company’s stock worth $13,379,000 after purchasing an additional 4,194 shares in the last quarter. Rhumbline Advisers lifted its position in Avaya by 5.3% in the 3rd quarter. Rhumbline Advisers now owns 108,848 shares of the company’s stock worth $2,410,000 after buying an additional 5,468 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Avaya by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,816,231 shares of the company’s stock worth $217,330,000 after buying an additional 225,882 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Avaya by 52.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 921,676 shares of the company’s stock worth $20,406,000 after buying an additional 316,676 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Avaya by 224.9% in the 3rd quarter. SG Americas Securities LLC now owns 170,720 shares of the company’s stock worth $3,780,000 after buying an additional 118,171 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

AVYA has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Avaya in a research report on Monday, January 7th. They issued an “equal weight” rating and a $18.50 target price for the company. Barclays restated a “hold” rating and issued a $20.00 target price on shares of Avaya in a research report on Wednesday, December 5th. Zacks Investment Research downgraded Avaya from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, Goldman Sachs Group initiated coverage on Avaya in a research report on Monday, December 17th. They issued a “neutral” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $23.42.

NYSE:AVYA opened at $17.21 on Tuesday. Avaya Holdings Corp has a 1-year low of $13.96 and a 1-year high of $23.76. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 1.51.

Avaya (NYSE:AVYA) last released its earnings results on Tuesday, December 4th. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.08. The company had revenue of $770.00 million during the quarter, compared to the consensus estimate of $768.00 million. Avaya had a return on equity of 185.96% and a net margin of 114.49%. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Avaya Holdings Corp will post 3.55 EPS for the current year.

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Avaya Profile

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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Institutional Ownership by Quarter for Avaya (NYSE:AVYA)

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