Synchronoss Technologies (NASDAQ:SNCR) Rating Increased to Strong-Buy 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 published on Monday morning,Zacks.com reports.

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

Synchronoss Technologies Stock Performance

SNCR opened at $9.56 on Monday. The firm has a fifty day moving average price of $11.60 and a 200 day moving average price of $10.85. Synchronoss Technologies has a 1 year low of $3.55 and a 1 year high of $15.46. The stock has a market cap of $103.63 million, a P/E ratio of -2.46 and a beta of 1.99. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Buying and Selling

In other Synchronoss Technologies news, EVP Patrick Joseph Doran sold 3,250 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,587,523.91. This represents a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 three months, insiders have sold 37,165 shares of company stock worth $513,165. Insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Synchronoss Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in Synchronoss Technologies by 12.9% during the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock worth $522,000 after buying an additional 4,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Synchronoss Technologies by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock worth $1,557,000 after acquiring an additional 4,159 shares during the period. Barclays PLC boosted its position in shares of Synchronoss Technologies by 603.6% during the 3rd 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 holdings in shares of Synchronoss Technologies by 9.3% in the second 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 period. Finally, GSA Capital Partners LLP acquired a new stake in Synchronoss Technologies during the third quarter worth about $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.