ShoreTel Inc. (NASDAQ:SHOR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “ShoreTel is a leading provider of enterprise IP telephony solutions. ShoreTel voice systems provide customers with a number of key benefits, including ease of use, manageability and lower total cost of ownership than alternative solutions. ShoreTel’s distributed software architecture and switched-based hardware platform extend enterprise-class voice services to every office and outpost, keeping employees fully connected wherever they go. ShoreTel has achieved broad industry recognition for its technology and high customer satisfaction. For the last four years, IT executives surveyed by Nemertes Research, an independent research firm, have rated ShoreTel highest in customer satisfaction among leading enterprise telecommunications systems providers. A select, worldwide group of channel partners provide service and support. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in the United Kingdom, Sydney, Australia and Munich, Germany. “

Separately, William Blair reiterated a “buy” rating on shares of ShoreTel in a research report on Tuesday, May 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $11.25.

Shares of ShoreTel (NASDAQ:SHOR) opened at 8.28 on Friday. The stock’s market cap is $557.99 million. The company’s 50-day moving average price is $8.05 and its 200 day moving average price is $7.18. ShoreTel has a 1-year low of $5.83 and a 1-year high of $10.56.

ShoreTel (NASDAQ:SHOR) last posted its earnings results on Thursday, August 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. ShoreTel had a positive return on equity of 2.31% and a negative net margin of 1.32%. The firm had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $90.57 million. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Equities analysts forecast that ShoreTel will post $0.01 EPS for the current fiscal year.

In other news, SVP Bharath Oruganti sold 13,125 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $8.50, for a total transaction of $111,562.50. Following the completion of the sale, the senior vice president now directly owns 36,724 shares of the company’s stock, valued at approximately $312,154. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SHOR. RGM Capital LLC raised its stake in ShoreTel by 5.9% in the first quarter. RGM Capital LLC now owns 5,766,368 shares of the company’s stock valued at $42,902,000 after buying an additional 322,157 shares in the last quarter. Credit Suisse AG raised its stake in ShoreTel by 95.7% in the second quarter. Credit Suisse AG now owns 3,485,434 shares of the company’s stock valued at $23,318,000 after buying an additional 1,704,809 shares in the last quarter. Vanguard Group Inc. raised its stake in ShoreTel by 5.5% in the second quarter. Vanguard Group Inc. now owns 3,080,392 shares of the company’s stock valued at $20,608,000 after buying an additional 159,468 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ShoreTel by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,106,388 shares of the company’s stock valued at $14,091,000 after buying an additional 94,172 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in ShoreTel by 5.8% in the second quarter. BlackRock Fund Advisors now owns 1,738,031 shares of the company’s stock valued at $11,627,000 after buying an additional 95,408 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

ShoreTel Company Profile

Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.

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