UBS Asset Management Americas Inc. raised its position in shares of Polycom Inc (NASDAQ:PLCM) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,686 shares of the company’s stock after buying an additional 1,844 shares during the period. UBS Asset Management Americas Inc. owned about 0.09% of Polycom worth $1,347,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in shares of 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. BlackRock Institutional Trust Company N.A. boosted its position in shares of Polycom by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,928,499 shares of the company’s stock worth $43,803,000 after buying an additional 114,717 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Polycom by 4.5% in the first quarter. JPMorgan Chase & Co. now owns 2,417,167 shares of the company’s stock worth $26,951,000 after buying an additional 103,624 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Polycom by 11.9% in the second quarter. Rothschild Asset Management Inc. now owns 1,831,377 shares of the company’s stock worth $20,603,000 after buying an additional 194,626 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Polycom by 7.5% in the first quarter. Prudential Financial Inc. now owns 1,447,974 shares of the company’s stock worth $16,145,000 after buying an additional 101,500 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.
Shares of Polycom Inc (NASDAQ:PLCM) remained flat at $12.47 during mid-day trading on Friday. Polycom Inc has a one year low of $8.79 and a one year high of $14.09. The company has a 50 day moving average of $12.47 and a 200-day moving average of $12.00.
Polycom (NASDAQ:PLCM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business 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 prior year, the firm posted $0.22 EPS. Analysts expect that Polycom Inc will post $0.85 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on PLCM shares. BMO Capital Markets restated a “neutral” rating on shares of Polycom in a report on Friday, July 8th. Zacks Investment Research cut shares of Polycom from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Finally, TheStreet cut shares of Polycom from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Polycom presently has a consensus rating of “Hold” and an average 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.
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