State Street Corp increased its position in Polycom Inc. (NASDAQ:PLCM) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,402,917 shares of the company’s stock after buying an additional 94,155 shares during the period. State Street Corp owned approximately 3.31% of Polycom worth $49,092,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its position 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 in the last quarter. Spark Investment Management LLC increased its position 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 in the last quarter. Menta Capital LLC increased its position in Polycom by 71.1% in the first quarter. Menta Capital LLC now owns 63,315 shares of the company’s stock worth $706,000 after buying an additional 26,300 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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 in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in 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 in the last quarter.
Shares of Polycom Inc. (NASDAQ:PLCM) remained flat at $12.41 during midday trading on Thursday. 4,453,347 shares of the company were exchanged. The firm has a market capitalization of $1.69 billion and a PE ratio of 77.08. Polycom Inc. has a 12 month low of $8.79 and a 12 month high of $14.09. The company has a 50-day moving average price of $11.85 and a 200-day moving average price of $11.21.
A number of research firms have recently issued reports on PLCM. TheStreet downgraded shares of Polycom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Zacks Investment Research downgraded shares of Polycom from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James Financial Inc. downgraded shares of Polycom from an “outperform” rating to a “market perform” rating in a research note on Monday, April 18th. Finally, BMO Capital Markets restated a “neutral” rating on shares of Polycom in a research note on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Polycom 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.
