New York State Teachers Retirement System continued to hold its stake in shares of Polycom Inc (NASDAQ:PLCM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,290 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Polycom were worth $3,660,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of PLCM. Oakbrook Investments LLC increased its stake in shares of Polycom by 11.0% in the second quarter. Oakbrook Investments LLC now owns 11,100 shares of the company’s stock valued at $125,000 after buying an additional 1,100 shares during the period. Royal Bank of Canada increased its stake 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 valued at $127,000 after buying an additional 8,580 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake 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 valued at $228,000 after buying an additional 450 shares during the period. BlackRock Inc. increased its stake in shares of Polycom by 10.7% in the first quarter. BlackRock Inc. now owns 52,370 shares of the company’s stock valued at $585,000 after buying an additional 5,059 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Polycom by 230.9% in the second quarter. Nordea Investment Management AB now owns 53,081 shares of the company’s stock valued at $597,000 after buying an additional 37,041 shares during the period. 92.41% of the stock is currently owned by institutional investors.
Polycom Inc (NASDAQ:PLCM) remained flat at $12.47 during trading on Friday. The company’s 50 day moving average is $12.46 and its 200 day moving average is $11.96. 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 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 firm had revenue of $287.80 million for the quarter, compared to the consensus estimate of $294.97 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, analysts forecast that Polycom Inc will post $0.85 earnings per share for the current year.
Several analysts recently issued reports on the company. BMO Capital Markets reissued a “neutral” rating on shares of Polycom in a research note on Friday, July 8th. Zacks Investment Research raised Polycom from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, TheStreet downgraded Polycom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Polycom 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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