Polycom Inc. (PLCM) Sees Strong Trading Volume
Polycom Inc. (NASDAQ:PLCM) shares saw unusually-high trading volume on Wednesday . Approximately 2,101,892 shares were traded during trading, an increase of 27% from the previous session’s volume of 1,658,951 shares.The stock last traded at $12.44 and had previously closed at $12.46.
PLCM has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed a “neutral” rating on shares of Polycom in a research note on Friday, July 8th. Zacks Investment Research cut shares of Polycom from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Finally, TheStreet lowered shares of Polycom from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Polycom presently has an average rating of “Hold” and a consensus price target of $13.00.
The company’s 50-day moving average is $12.41 and its 200-day moving average is $11.61. The firm has a market cap of $1.69 billion and a PE ratio of 77.27.
Polycom (NASDAQ:PLCM) last released its earnings results on Thursday, July 21st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $287.80 million for the quarter, compared to analyst estimates of $294.97 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Equities research analysts expect that Polycom Inc. will post $0.87 EPS for the current fiscal year.
A hedge fund recently raised its stake in Polycom stock. Morgan Stanley boosted its position in Polycom Inc. (NASDAQ:PLCM) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,208 shares of the company’s stock after buying an additional 237,169 shares during the period. Morgan Stanley owned about 0.70% of Polycom worth $11,799,000 at the end of the most recent reporting 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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