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

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

SNCR has been the subject of several other research reports. StockNews.com cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Roth Mkm raised shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $13.00 in a research report on Monday.

Synchronoss Technologies Stock Performance

Shares of NASDAQ SNCR opened at $9.41 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. Synchronoss Technologies has a one year low of $3.55 and a one year high of $15.46. The business’s 50-day moving average price is $11.60 and its two-hundred day moving average price is $10.85. The company has a market capitalization of $102.00 million, a P/E ratio of -2.37 and a beta of 1.99.

Insiders Place Their Bets

In other news, CEO Jeffrey George Miller sold 12,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 284,462 shares in the company, valued at approximately $3,840,237. The trade was a 4.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Joseph Doran sold 3,250 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total transaction of $48,002.50. Following the sale, the executive vice president now directly owns 107,483 shares of the company’s stock, valued at approximately $1,587,523.91. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,165 shares of company stock valued at $513,165 over the last three months. 17.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its position in shares of 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 purchasing an additional 4,919 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Synchronoss Technologies during the 3rd quarter valued at approximately $165,000. XTX Topco Ltd acquired a new stake in Synchronoss Technologies in the 3rd quarter valued at approximately $237,000. State Street Corp grew its holdings in Synchronoss Technologies by 12.9% in 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. Finally, Dimensional Fund Advisors LP increased its position in Synchronoss Technologies by 40.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after buying an additional 20,368 shares during the period. Institutional investors and hedge funds own 51.71% of the company’s stock.

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.