Synchronoss Technologies (NASDAQ:SNCR) Upgraded at Roth Capital

Synchronoss Technologies (NASDAQ:SNCR) was upgraded by analysts at Roth Capital from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on SNCR. StockNews.com cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $13.00 in a research report on Monday.

Synchronoss Technologies Stock Up 0.4 %

Shares of NASDAQ SNCR opened at $9.56 on Monday. The stock has a market cap of $103.63 million, a PE ratio of -2.46 and a beta of 1.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies has a 52-week low of $3.55 and a 52-week high of $15.46. The business has a 50-day moving average price of $11.60 and a 200 day moving average price of $10.85.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, CFO Lou Ferraro sold 5,768 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.60, for a total transaction of $78,444.80. Following the completion of the sale, the chief financial officer now directly owns 83,556 shares of the company’s stock, valued at $1,136,361.60. This represents a 6.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey George Miller sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total value of $162,000.00. Following the sale, the chief executive officer now directly owns 284,462 shares of the company’s stock, valued at approximately $3,840,237. This represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,165 shares of company stock valued at $513,165 in the last ninety days. Insiders own 17.90% of the company’s stock.

Hedge Funds Weigh In On Synchronoss Technologies

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Synchronoss Technologies by 2.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock worth $8,395,000 after buying an additional 13,984 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Synchronoss Technologies by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock worth $1,557,000 after buying an additional 4,159 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after buying an additional 6,700 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Synchronoss Technologies by 40.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after buying an additional 20,368 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Synchronoss Technologies by 12.9% during the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock worth $522,000 after buying an additional 4,000 shares in the last quarter. 51.71% of the stock is owned by hedge funds and other institutional investors.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.