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

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

Separately, StockNews.com downgraded 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 Synchronoss Technologies stock opened at $9.81 on Monday. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $106.34 million, a price-to-earnings ratio of -2.45 and a beta of 1.99. The firm’s 50-day moving average is $11.54 and its two-hundred day moving average is $10.86. Synchronoss Technologies has a 1 year low of $3.55 and a 1 year high of $15.46.

Insider Buying and Selling

In other news, Director Martin Francis Bernstein sold 2,319 shares of Synchronoss Technologies stock in a transaction that occurred 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 transaction, the director now owns 63,456 shares of the company’s stock, valued at $901,075.20. The trade was a 3.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey George Miller sold 12,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total transaction of $162,000.00. Following the sale, the chief executive officer now directly owns 284,462 shares of the company’s stock, valued at $3,840,237. The trade was a 4.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,165 shares of company stock worth $513,165 in the last three months. 17.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNCR. Dimensional Fund Advisors LP raised its stake 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 buying an additional 20,368 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Synchronoss Technologies during the third quarter valued at about $165,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Synchronoss Technologies by 2.5% during the third 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 6,700 shares during the last quarter. Finally, Barclays PLC boosted its stake in Synchronoss Technologies by 603.6% in the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after purchasing an additional 4,919 shares in the last quarter. 51.71% of the stock is currently 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.