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

Synchronoss Technologies (NASDAQ:SNCR) was upgraded by stock analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat reports. The firm presently has a $13.00 target price on the software maker’s stock, up from their previous target price of $11.00. Roth Mkm’s price target points to a potential upside of 38.15% from the company’s current price.

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

Synchronoss Technologies Stock Down 1.6 %

SNCR stock opened at $9.41 on Monday. The company has a 50 day moving average price of $11.60 and a two-hundred day moving average price of $10.85. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $102.00 million, a P/E ratio of -2.37 and a beta of 1.99. Synchronoss Technologies has a one year low of $3.55 and a one year high of $15.46.

Insider Buying and Selling

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 284,462 shares in the company, valued at $3,840,237. This represents a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Lou Ferraro sold 5,768 shares of Synchronoss Technologies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.60, for a total value of $78,444.80. Following the completion of the transaction, the chief financial officer now directly owns 83,556 shares in the company, valued at $1,136,361.60. This represents a 6.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,165 shares of company stock valued at $513,165. Insiders own 17.90% of the company’s stock.

Institutional Trading of Synchronoss Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 buying an additional 20,368 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Synchronoss Technologies in the 3rd quarter valued at $237,000. Allspring Global Investments Holdings LLC raised its stake in shares of Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock valued at $8,395,000 after acquiring an additional 13,984 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Synchronoss Technologies during the 3rd quarter valued at $165,000. Finally, Renaissance Technologies LLC boosted its position in Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after purchasing an additional 6,700 shares during the period. Institutional investors and hedge funds 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.