Synchronoss Technologies (NASDAQ:SNCR) Rating Increased to Buy at Roth Mkm

Roth Mkm upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat.com reports. Roth Mkm currently has $13.00 price target on the software maker’s stock, up from their previous price target of $11.00.

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

Synchronoss Technologies Stock Performance

Shares of SNCR opened at $9.81 on Monday. The stock has a market capitalization of $106.33 million, a PE ratio of -2.53 and a beta of 1.99. The business’s fifty day moving average price is $11.50 and its 200 day moving average price 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. Synchronoss Technologies has a 12-month low of $3.55 and a 12-month high of $15.46.

Insider Transactions at Synchronoss Technologies

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 completion of the transaction, the chief executive officer now owns 284,462 shares in the company, valued at approximately $3,840,237. This represents a 4.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Francis Bernstein sold 7,792 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.66, for a total transaction of $106,438.72. Following the completion of the sale, the director now directly owns 55,664 shares in the company, valued at approximately $760,370.24. This trade represents a 12.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,165 shares of company stock worth $513,165. 17.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synchronoss Technologies

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Synchronoss Technologies by 40.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after buying an additional 20,368 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Synchronoss Technologies during the 3rd quarter worth $165,000. Allspring Global Investments Holdings LLC grew its stake in shares of Synchronoss Technologies by 2.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock worth $8,395,000 after purchasing an additional 13,984 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Synchronoss Technologies by 9.3% during the second 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 during the period. Finally, Barclays PLC grew its position in Synchronoss Technologies by 603.6% in the 3rd 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 in the last quarter. 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.