Synchronoss Technologies (NASDAQ:SNCR) Upgraded by Roth Mkm to Buy Rating

Roth Mkm upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a neutral rating to a buy rating in a report released on Monday, Marketbeat reports. They currently have $13.00 price target on the software maker’s stock, up from their prior price target of $11.00.

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

Synchronoss Technologies Trading Up 0.4 %

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

Insider Buying and Selling

In related news, EVP Patrick Joseph Doran sold 3,250 shares of Synchronoss Technologies stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $14.77, for a total value of $48,002.50. Following the sale, the executive vice president now directly owns 107,483 shares in the company, valued at $1,587,523.91. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin Francis Bernstein sold 6,036 shares of Synchronoss Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $14.14, for a total value of $85,349.04. Following the sale, the director now directly owns 48,498 shares in the company, valued at approximately $685,761.72. This trade represents a 11.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,165 shares of company stock worth $513,165. 17.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchronoss Technologies

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Synchronoss Technologies by 12.9% during the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in Synchronoss Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock worth $1,557,000 after purchasing an additional 4,159 shares in the last quarter. Barclays PLC lifted its position in Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after purchasing an additional 4,919 shares during the period. Renaissance Technologies LLC boosted its stake in Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after purchasing an additional 6,700 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Synchronoss Technologies in the 3rd quarter worth $165,000. Institutional investors own 51.71% of the company’s stock.

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.