Wedge Capital Management L L P NC continued to hold its stake in ShoreTel, Inc. (NASDAQ:SHOR) during the second quarter, Holdings Channel reports. The institutional investor owned 207,900 shares of the communications equipment provider’s stock at the end of the second quarter. Wedge Capital Management L L P NC’s holdings in ShoreTel were worth $1,206,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC bought a new stake in ShoreTel during the fourth quarter worth about $307,000. Teachers Advisors LLC raised its stake in ShoreTel by 59.7% in the fourth quarter. Teachers Advisors LLC now owns 202,971 shares of the communications equipment provider’s stock worth $1,451,000 after buying an additional 75,841 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in ShoreTel during the first quarter worth about $278,000. Wells Fargo & Company MN raised its stake in ShoreTel by 3.3% in the first quarter. Wells Fargo & Company MN now owns 47,472 shares of the communications equipment provider’s stock worth $292,000 after buying an additional 1,500 shares in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in ShoreTel during the first quarter worth about $304,000. 87.17% of the stock is currently owned by institutional investors.

Shares of ShoreTel, Inc. (NASDAQ SHOR) opened at 7.50 on Thursday. The firm has a 50-day moving average price of $6.51 and a 200-day moving average price of $6.35. The firm’s market cap is $513.88 million. ShoreTel, Inc. has a 52-week low of $5.55 and a 52-week high of $8.50.

ShoreTel (NASDAQ:SHOR) last issued its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $95.72 million for the quarter, compared to analysts’ expectations of $90.69 million. ShoreTel had a negative return on equity of 0.67% and a negative net margin of 3.48%. Analysts predict that ShoreTel, Inc. will post $0.15 EPS for the current fiscal year.

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A number of equities research analysts have issued reports on SHOR shares. Zacks Investment Research raised ShoreTel from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research report on Wednesday, May 3rd. ValuEngine lowered ShoreTel from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Northland Securities reaffirmed a “buy” rating and issued a $10.00 price target on shares of ShoreTel in a research report on Tuesday, July 4th. William Blair lowered ShoreTel from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Finally, Sidoti lowered ShoreTel from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.17.

About ShoreTel

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

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Institutional Ownership by Quarter for ShoreTel (NASDAQ:SHOR)

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