Northwestern Mutual Investment Management Company LLC raised its position in shares of Polycom Inc. (NASDAQ:PLCM) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 23,413 shares of the company’s stock after buying an additional 309 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Polycom were worth $263,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kassirer Asset Management Corp purchased a new stake in shares of Polycom during the second quarter worth about $113,000. Cowen Prime Services LLC purchased a new stake in shares of Polycom during the second quarter worth about $120,000. Oakbrook Investments LLC raised 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 worth $125,000 after buying an additional 1,100 shares during the last quarter. Royal Bank of Canada raised 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 worth $127,000 after buying an additional 8,580 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Polycom by 1.5% in the second quarter. Hsbc Holdings PLC now owns 11,926 shares of the company’s stock worth $134,000 after buying an additional 174 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Polycom Inc. (NASDAQ:PLCM) opened at 12.47 on Thursday. Polycom Inc. has a 12-month low of $8.79 and a 12-month high of $14.09. The firm’s 50-day moving average price is $12.45 and its 200-day moving average price is $11.90. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 77.45 and a beta of 1.41.
Polycom (NASDAQ:PLCM) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $287.80 million for the quarter, compared to analyst estimates of $294.97 million. Polycom had a net margin of 1.79% and a return on equity of 5.17%. During the same period in the previous year, the business posted $0.22 earnings per share. On average, analysts forecast that Polycom Inc. will post $0.85 EPS for the current fiscal year.
PLCM has been the subject of a number of research reports. Zacks Investment Research lowered Polycom from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. TheStreet lowered Polycom from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, BMO Capital Markets reiterated a “neutral” rating on shares of Polycom in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price 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.
Want to see what other hedge funds are holding PLCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Polycom Inc. (NASDAQ:PLCM).
Receive News & Ratings for Polycom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polycom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.