Polycom Inc. (PLCM) Sees Large Volume Increase
Shares of Polycom Inc. (NASDAQ:PLCM) saw strong trading volume on Thursday . 1,806,451 shares traded hands during mid-day trading, an increase of 73% from the previous session’s volume of 1,041,482 shares.The stock last traded at $10.87 and had previously closed at $10.87.
Several equities analysts have recently issued reports on the company. Raymond James Financial Inc. lowered Polycom from an “outperform” rating to a “market perform” rating in a report on Monday, April 18th. BMO Capital Markets reiterated a “hold” rating on shares of Polycom in a research note on Thursday, April 21st. Finally, TheStreet upgraded Polycom from a “hold” rating to a “buy” rating in a research note on Wednesday, March 30th. One equities research 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. Polycom currently has an average rating of “Hold” and a consensus target price of $13.00.
The stock has a market cap of $1.66 billion and a price-to-earnings ratio of 32.32. The company’s 50-day moving average price is $11.62 and its 200-day moving average price is $11.20.
Polycom (NASDAQ:PLCM) last issued its earnings results on Wednesday, April 20th. The company reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. During the same quarter in the prior year, the company earned $0.23 earnings per share. The company earned $290.08 million during the quarter, compared to the consensus estimate of $301.40 million. Polycom’s revenue was down 12.3% on a year-over-year basis. Equities analysts forecast that Polycom Inc. will post $0.84 EPS for the current year.
A number of institutional investors recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Polycom by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,911,061 shares of the company’s stock worth $112,193,000 after buying an additional 269,066 shares in the last quarter. Jennison Associates LLC increased its position in shares of Polycom by 4.2% in the fourth quarter. Jennison Associates LLC now owns 3,074,657 shares of the company’s stock worth $38,710,000 after buying an additional 122,915 shares in the last quarter. Morgan Stanley increased its position in shares of Polycom by 33.9% in the fourth quarter. Morgan Stanley now owns 937,208 shares of the company’s stock worth $11,799,000 after buying an additional 237,169 shares in the last quarter. Russell Frank Co increased its position in shares of Polycom by 19.4% in the fourth quarter. Russell Frank Co now owns 651,854 shares of the company’s stock worth $8,364,000 after buying an additional 105,799 shares in the last quarter. Finally, Nationwide Fund Advisors increased its position 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 in the last quarter.
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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