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

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

Other research analysts have also issued reports about the company. StockNews.com lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 to $13.00 in a research report on Monday.

Synchronoss Technologies Price Performance

Shares of NASDAQ:SNCR opened at $9.56 on Monday. The business’s fifty day moving average price is $11.60 and its two-hundred day moving average price is $10.85. The stock has a market cap of $103.63 million, a PE ratio of -2.46 and a beta of 1.99. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. 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, Director Martin Francis Bernstein sold 2,319 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $14.20, for a total value of $32,929.80. Following the transaction, the director now directly owns 63,456 shares of the company’s stock, valued at $901,075.20. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey George Miller sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total value of $162,000.00. Following the completion of the transaction, the chief executive officer now directly owns 284,462 shares in the company, valued at $3,840,237. This trade represents a 4.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,165 shares of company stock valued at $513,165. 17.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNCR. 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. XTX Topco Ltd purchased a new stake in shares of Synchronoss Technologies during the third quarter worth about $237,000. Allspring Global Investments Holdings LLC increased its position 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 worth $8,395,000 after acquiring an additional 13,984 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Synchronoss Technologies during the third quarter worth about $165,000. Finally, Renaissance Technologies LLC increased its position 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 worth $734,000 after acquiring an additional 6,700 shares during the last quarter. 51.71% of the stock is 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.