Synchronoss Technologies (NASDAQ:SNCR) Upgraded by Roth Capital to “Strong-Buy” Rating

Roth Capital upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Several other research analysts have also commented on SNCR. StockNews.com lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Roth Mkm raised shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $13.00 in a research report on Monday.

Synchronoss Technologies Trading Up 0.4 %

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’s fifty day moving average is $11.60 and its two-hundred day moving average is $10.85. The company 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.

Insider Transactions at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the completion of the sale, the chief executive officer now directly owns 284,462 shares in the company, valued at approximately $3,840,237. This trade represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Martin Francis Bernstein sold 7,792 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.66, for a total value of $106,438.72. Following the sale, the director now owns 55,664 shares in the company, valued at $760,370.24. The trade was a 12.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,165 shares of company stock valued at $513,165 in the last quarter. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Barclays PLC boosted 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 valued at $85,000 after buying an additional 4,919 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at $165,000. XTX Topco Ltd acquired a new stake in shares of Synchronoss Technologies in the third quarter worth $237,000. State Street Corp raised its holdings 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 worth $522,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 20,368 shares during the period. 51.71% of the stock is owned by institutional investors and hedge funds.

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.