Mason Street Advisors LLC purchased a new position in shares of Polycom Inc (NASDAQ:PLCM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 61,847 shares of the company’s stock, valued at approximately $696,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HBK Investments L P raised its position in shares of Polycom by 244.2% in the first quarter. HBK Investments L P now owns 151,800 shares of the company’s stock worth $1,693,000 after buying an additional 107,700 shares during the last quarter. AXA increased its stake in Polycom by 1.0% in the first quarter. AXA now owns 348,600 shares of the company’s stock worth $3,887,000 after buying an additional 3,600 shares during the period. State Street Corp increased its stake in Polycom by 2.2% in the first quarter. State Street Corp now owns 4,402,917 shares of the company’s stock worth $49,092,000 after buying an additional 94,155 shares during the period. Canada Pension Plan Investment Board increased its stake in Polycom by 3.7% in the first quarter. Canada Pension Plan Investment Board now owns 961,013 shares of the company’s stock worth $10,715,000 after buying an additional 34,500 shares during the period. Finally, Spark Investment Management LLC increased its stake in Polycom by 224.2% in the first quarter. Spark Investment Management LLC now owns 437,700 shares of the company’s stock worth $4,880,000 after buying an additional 302,700 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
Polycom Inc (NASDAQ:PLCM) opened at 12.47 on Monday. The company’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 released its earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business earned $287.80 million during the quarter, compared to the consensus estimate of $294.97 million. Polycom had a net margin of 1.79% and a return on equity of 5.17%. During the same quarter in the prior year, the firm posted $0.22 EPS. Equities research analysts forecast that Polycom Inc will post $0.85 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. BMO Capital Markets reiterated a “neutral” rating on shares of Polycom in a report on Friday, July 8th. Zacks Investment Research upgraded shares of Polycom from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, TheStreet downgraded shares of Polycom from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.00.
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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