Polycom Inc. (PLCM) Trading Up 12.9%
Polycom Inc. (NASDAQ:PLCM) was up 12.9% during mid-day trading on Friday . The stock traded as high as $12.30 and last traded at $12.27, with a volume of 78,174,110 shares changing hands. The stock had previously closed at $10.87.
Several brokerages recently weighed in on PLCM. TheStreet upgraded shares of Polycom from a “hold” rating to a “buy” rating in a research report on Wednesday, March 30th. BMO Capital Markets restated a “hold” rating on shares of Polycom in a research report on Thursday, April 21st. Finally, Raymond James Financial Inc. cut shares of Polycom from an “outperform” rating to a “market perform” rating in a research report on Monday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.00.
The firm has a 50 day moving average of $11.59 and a 200 day moving average of $11.20. The firm has a market cap of $1.66 billion and a P/E ratio of 32.35.
Polycom (NASDAQ:PLCM) last released its quarterly earnings data on Wednesday, April 20th. The company reported $0.19 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The company earned $290.08 million during the quarter, compared to analysts’ expectations of $301.40 million. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. On average, equities analysts forecast that Polycom Inc. will post $0.84 EPS for the current fiscal year.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Russell Frank Co increased its position in Polycom by 19.4% in the fourth quarter. Russell Frank Co now owns 651,854 shares of the company’s stock valued at $8,364,000 after buying an additional 105,799 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Polycom by 36.6% in the fourth quarter. Nationwide Fund Advisors now owns 519,190 shares of the company’s stock worth $6,537,000 after buying an additional 139,101 shares during the period. California State Teachers Retirement System increased its stake in shares of Polycom by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 250,247 shares of the company’s stock worth $3,151,000 after buying an additional 3,987 shares during the period. Sei Investments Co. increased its stake in shares of Polycom by 2.0% in the fourth quarter. Sei Investments Co. now owns 200,516 shares of the company’s stock worth $2,524,000 after buying an additional 3,865 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Polycom during the fourth quarter worth about $3,793,000.
Polycom, Inc (Polycom) offers solutions for voice, video and content sharing and a line of support and service solutions. The Company operates in Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC) geographic segments. The Company’s video, voice and content-management and content-sharing solutions include applications for mobile devices, browser-based video collaboration, cloud-delivered services, conference room systems and home/work office solutions and immersive telepresence.
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