Roth Mkm Upgrades Synchronoss Technologies (NASDAQ:SNCR) to Buy

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

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

Synchronoss Technologies Stock Performance

SNCR opened at $9.81 on Monday. The business has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $10.85. The firm has a market cap of $106.33 million, a PE ratio of -2.53 and a beta of 1.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies has a fifty-two week low of $3.55 and a fifty-two week high of $15.46.

Insider Activity at Synchronoss Technologies

In related news, CEO Jeffrey George Miller sold 12,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the completion of the sale, the chief executive officer now directly owns 284,462 shares of the company’s stock, valued at approximately $3,840,237. This represents a 4.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Joseph Doran sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total value of $48,002.50. Following the sale, the executive vice president now owns 107,483 shares of the company’s stock, valued at $1,587,523.91. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,165 shares of company stock worth $513,165. 17.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Synchronoss Technologies by 12.9% during the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after buying an additional 4,000 shares during the last quarter. Geode Capital Management LLC raised its position in Synchronoss Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock valued at $1,557,000 after acquiring an additional 4,159 shares in the last quarter. Barclays PLC lifted its stake 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 acquiring an additional 4,919 shares during the last quarter. Renaissance Technologies LLC grew its position in Synchronoss Technologies by 9.3% in 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 in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Synchronoss Technologies during the 3rd quarter worth $165,000. 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.