Polycom Inc. (NASDAQ:PLCM)’s share price shot up 12.9% during mid-day trading on Friday . The company traded as high as $12.30 and last traded at $12.27, with a volume of 78,174,110 shares traded. The stock had previously closed at $10.87.

A number of brokerages have issued reports on PLCM. Raymond James Financial Inc. cut Polycom from an “outperform” rating to a “market perform” rating in a report on Monday, April 18th. BMO Capital Markets reaffirmed a “hold” rating on shares of Polycom in a report on Thursday, April 21st. Finally, TheStreet raised Polycom from a “hold” rating to a “buy” rating in a research note on Wednesday, March 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $13.00.

The firm’s 50 day moving average is $11.62 and its 200 day moving average is $11.20. The company has a market capitalization of $1.66 billion and a P/E ratio of 32.32.

Polycom (NASDAQ:PLCM) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $0.19 earnings per share for the quarter, meeting 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. During the same quarter last year, the firm posted $0.23 earnings per share. Polycom’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts expect that Polycom Inc. will post $0.84 EPS for the current year.

Other institutional investors recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted 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 valued at $112,193,000 after buying an additional 269,066 shares during the period. Jennison Associates LLC boosted 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 valued at $38,710,000 after buying an additional 122,915 shares during the period. Morgan Stanley boosted 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 valued at $11,799,000 after buying an additional 237,169 shares during the period. Russell Frank Co boosted 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 valued at $8,364,000 after buying an additional 105,799 shares during the period. Finally, Nationwide Fund Advisors boosted 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 valued at $6,537,000 after buying an additional 139,101 shares during the period.

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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