Renaissance Technologies LLC Purchases 6,700 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Renaissance Technologies LLC raised its holdings in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 9.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,974 shares of the software maker’s stock after acquiring an additional 6,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.73% of Synchronoss Technologies worth $734,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SNCR. Bouvel Investment Partners LLC lifted its holdings in Synchronoss Technologies by 3.4% in the 1st quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock worth $642,000 after purchasing an additional 2,518 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Synchronoss Technologies by 40.6% during the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after buying an additional 20,368 shares during the last quarter. Finally, AWM Investment Company Inc. lifted its holdings in shares of Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock worth $4,435,000 after buying an additional 41,824 shares in the last quarter. Institutional investors own 51.71% of the company’s stock.

Synchronoss Technologies Price Performance

NASDAQ:SNCR opened at $13.01 on Wednesday. The business’s 50-day moving average is $12.79 and its 200 day moving average is $10.04. Synchronoss Technologies, Inc. has a 12 month low of $2.70 and a 12 month high of $15.46. The company has a market capitalization of $140.40 million, a P/E ratio of -2.58 and a beta of 1.96. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 6.68.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Tuesday, August 6th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.39. Synchronoss Technologies had a positive return on equity of 28.60% and a negative net margin of 16.97%. The business had revenue of $43.46 million for the quarter, compared to analysts’ expectations of $43.09 million. On average, equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

Insiders Place Their Bets

In other news, CEO Jeffrey George Miller sold 12,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total transaction of $162,000.00. Following the sale, the chief executive officer now directly owns 284,462 shares in the company, valued at approximately $3,840,237. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Lou Ferraro sold 5,768 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.60, for a total value of $78,444.80. Following the sale, the chief financial officer now owns 83,556 shares of the company’s stock, valued at approximately $1,136,361.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey George Miller sold 12,000 shares of Synchronoss Technologies stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total transaction of $162,000.00. Following the transaction, the chief executive officer now directly owns 284,462 shares of the company’s stock, valued at approximately $3,840,237. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 297,907 shares of company stock valued at $3,616,726 in the last three months. Corporate insiders own 17.90% of the company’s stock.

Synchronoss Technologies 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.