PNC Financial Services Group Inc. increased its position in Polycom Inc. (NASDAQ:PLCM) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 23,373 shares of the company’s stock after buying an additional 779 shares during the period. PNC Financial Services Group Inc.’s holdings in Polycom were worth $262,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Kassirer Asset Management Corp bought a new position in shares of Polycom during the second quarter worth about $113,000. Oakbrook Investments LLC boosted its position in shares of Polycom by 11.0% in the second quarter. Oakbrook Investments LLC now owns 11,100 shares of the company’s stock worth $125,000 after buying an additional 1,100 shares during the period. Royal Bank of Canada boosted its position in shares of Polycom by 308.0% in the first quarter. Royal Bank of Canada now owns 11,366 shares of the company’s stock worth $127,000 after buying an additional 8,580 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Polycom by 2.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,445 shares of the company’s stock worth $228,000 after buying an additional 450 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Polycom by 7.0% in the second quarter. First Citizens Bank & Trust Co. now owns 24,660 shares of the company’s stock worth $277,000 after buying an additional 1,615 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.
Polycom Inc. (NASDAQ:PLCM) remained flat at $12.47 during trading on Friday. The stock has a market cap of $1.69 billion, a PE ratio of 77.45 and a beta of 1.41. The firm’s 50 day moving average is $12.46 and its 200 day moving average is $11.91. Polycom Inc. has a one year low of $8.79 and a one year high of $14.09.
Polycom (NASDAQ:PLCM) last issued 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. Polycom had a return on equity of 5.17% and a net margin of 1.79%. The business earned $287.80 million during the quarter, compared to analysts’ expectations of $294.97 million. During the same quarter in the prior year, the firm earned $0.22 EPS. Equities analysts anticipate that Polycom Inc. will post $0.85 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. TheStreet cut Polycom from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Zacks Investment Research upgraded Polycom from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, BMO Capital Markets restated a “neutral” rating on shares of Polycom in a report on Friday, July 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.00.
Polycom Company Profile
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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