Roth Capital Upgrades Synchronoss Technologies (NASDAQ:SNCR) to “Strong-Buy”

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

Several other brokerages have also recently issued reports on SNCR. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $13.00 in a research report on Monday. StockNews.com lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

Synchronoss Technologies Price Performance

NASDAQ SNCR opened at $9.41 on Monday. Synchronoss Technologies has a 12 month low of $3.55 and a 12 month high of $15.46. The firm has a market capitalization of $102.00 million, a PE ratio of -2.37 and a beta of 1.99. The company’s 50 day simple moving average is $11.60 and its 200 day simple moving average is $10.85. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling

In other news, EVP Patrick Joseph Doran sold 3,250 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total transaction of $48,002.50. Following the sale, the executive vice president now directly owns 107,483 shares of the company’s stock, valued at $1,587,523.91. The trade was a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Francis Bernstein sold 2,319 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $14.20, for a total value of $32,929.80. Following the completion of the transaction, the director now owns 63,456 shares of the company’s stock, valued at $901,075.20. This trade represents a 3.53 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,165 shares of company stock worth $513,165. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNCR. State Street Corp boosted its position in shares of Synchronoss Technologies by 12.9% in the third 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 during the period. Geode Capital Management LLC boosted its position in 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 acquiring an additional 4,159 shares during the period. Barclays PLC boosted its position 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. Renaissance Technologies LLC grew 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 acquiring an additional 6,700 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Synchronoss Technologies in the third quarter worth approximately $165,000. 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.