ShoreTel Inc. (NASDAQ:SHOR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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 reissued a “buy” rating on shares of ShoreTel in a research report on Monday, October 31st.

ShoreTel (NASDAQ:SHOR) opened at 6.90 on Friday. The firm’s 50-day moving average is $7.27 and its 200 day moving average is $7.21. ShoreTel has a 12 month low of $5.83 and a 12 month high of $10.56. The stock’s market capitalization is $468.81 million.

ShoreTel (NASDAQ:SHOR) last posted its earnings results on Thursday, October 27th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. ShoreTel had a negative net margin of 3.52% and a negative return on equity of 0.83%. The business had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $89.04 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year.

In related news, VP Eugenia Corrales sold 7,040 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $6.49, for a total value of $45,689.60. Following the sale, the vice president now directly owns 1,109 shares of the company’s stock, valued at $7,197.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in ShoreTel by 45.0% in the first quarter. Goldman Sachs Group Inc. now owns 224,424 shares of the company’s stock valued at $1,670,000 after buying an additional 69,636 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in ShoreTel by 10.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 346,336 shares of the company’s stock valued at $2,577,000 after buying an additional 32,502 shares during the last quarter. Barclays PLC raised its stake in ShoreTel by 149.5% in the first quarter. Barclays PLC now owns 250,200 shares of the company’s stock valued at $1,751,000 after buying an additional 149,900 shares during the last quarter. Bank of Montreal Can acquired a new stake in ShoreTel during the second quarter valued at $340,000. Finally, Strs Ohio raised its stake in ShoreTel by 8.3% in the second quarter. Strs Ohio now owns 101,400 shares of the company’s stock valued at $678,000 after buying an additional 7,800 shares during the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.

About ShoreTel

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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