Synchronoss Technologies (NASDAQ:SNCR) Upgraded at Roth Capital

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

A number of other equities research analysts have also recently commented on the stock. Roth Mkm upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a research report on Monday. StockNews.com cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Synchronoss Technologies Stock Up 4.3 %

Shares of SNCR opened at $9.81 on Monday. The stock has a 50 day moving average price of $11.54 and a 200 day moving average price of $10.86. 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 $106.34 million, a price-to-earnings ratio of -2.45 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 news, EVP Patrick Joseph Doran sold 3,250 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $14.77, for a total value of $48,002.50. Following the completion of the sale, the executive vice president now owns 107,483 shares of the company’s stock, valued at $1,587,523.91. This represents a 2.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey George Miller sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total transaction of $162,000.00. Following the sale, the chief executive officer now owns 284,462 shares of the company’s stock, valued at $3,840,237. This represents a 4.05 % 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 owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Synchronoss Technologies by 40.6% in 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. GSA Capital Partners LLP acquired a new stake in shares of Synchronoss Technologies during the 3rd quarter worth about $165,000. Allspring Global Investments Holdings LLC increased its position in shares of Synchronoss Technologies by 2.5% during the 3rd 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 during the last quarter. Renaissance Technologies LLC raised its holdings in Synchronoss Technologies by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after buying an additional 6,700 shares during the period. Finally, 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 valued at $85,000 after buying an additional 4,919 shares during the last quarter. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

About Synchronoss Technologies

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.