State of Wisconsin Investment Board Buys 353,388 Shares of Synchronoss Technologies, Inc. (SNCR)

State of Wisconsin Investment Board raised its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 108.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 679,010 shares of the software maker’s stock after buying an additional 353,388 shares during the period. State of Wisconsin Investment Board owned about 1.54% of Synchronoss Technologies worth $6,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in shares of Synchronoss Technologies by 80.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,511 shares of the software maker’s stock valued at $140,000 after buying an additional 3,791 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Synchronoss Technologies by 4.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the software maker’s stock valued at $166,000 after buying an additional 470 shares during the last quarter. Greenwood Capital Associates LLC purchased a new position in shares of Synchronoss Technologies during the 2nd quarter valued at about $166,000. Crossmark Global Holdings Inc. purchased a new position in shares of Synchronoss Technologies during the 3rd quarter valued at about $113,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Synchronoss Technologies by 56.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,795 shares of the software maker’s stock valued at $227,000 after buying an additional 5,003 shares during the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.

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Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) opened at $10.38 on Monday. The stock has a market capitalization of $493.20, a PE ratio of 7.16 and a beta of 1.62. Synchronoss Technologies, Inc. has a twelve month low of $8.71 and a twelve month high of $49.94.

A number of research firms have weighed in on SNCR. BidaskClub upgraded Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Citigroup Inc. lifted their price target on Synchronoss Technologies to $10.00 and gave the company a “hold” rating in a research note on Wednesday, September 20th. Stifel Nicolaus restated a “hold” rating and issued a $10.00 price target (down previously from $16.00) on shares of Synchronoss Technologies in a research note on Wednesday, September 20th. Deutsche Bank AG restated a “hold” rating and issued a $18.00 price target (up previously from $10.00) on shares of Synchronoss Technologies in a research note on Monday, October 9th. Finally, Zacks Investment Research upgraded Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.71.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

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Institutional Ownership by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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