Allspring Global Investments Holdings LLC Has $5.47 Million Stock Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Allspring Global Investments Holdings LLC raised its position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 574,999 shares of the software maker’s stock after purchasing an additional 11,023 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 5.30% of Synchronoss Technologies worth $5,468,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Synchronoss Technologies by 54,341.7% during the third quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker’s stock worth $875,000 after buying an additional 58,689 shares during the period. Barclays PLC grew its holdings in Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after acquiring an additional 4,919 shares during the period. Geode Capital Management LLC raised its position in shares of Synchronoss Technologies by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock worth $1,557,000 after acquiring an additional 4,159 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Synchronoss Technologies in the 3rd quarter valued at about $237,000. Finally, State Street Corp lifted its stake in shares of Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 51.71% of the company’s stock.

Synchronoss Technologies Price Performance

SNCR stock opened at $9.68 on Thursday. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The company’s 50-day moving average is $9.58 and its 200-day moving average is $11.01. The stock has a market capitalization of $104.93 million, a PE ratio of -2.49 and a beta of 1.99. Synchronoss Technologies, Inc. has a 1 year low of $6.02 and a 1 year high of $15.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNCR shares. Roth Capital upgraded Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th. Roth Mkm upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research note on Monday, November 25th.

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.