MANA Advisors LLC acquired a new position in Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 21,551 shares of the software maker’s stock, valued at approximately $193,000.
Several other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new stake in shares of Synchronoss Technologies in the 3rd quarter valued at approximately $113,000. SG Americas Securities LLC acquired a new position in shares of Synchronoss Technologies in the 3rd quarter worth approximately $119,000. FNY Managed Accounts LLC acquired a new position in shares of Synchronoss Technologies in the 3rd quarter worth approximately $149,000. Teacher Retirement System of Texas acquired a new position in shares of Synchronoss Technologies in the 4th quarter worth approximately $149,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of Synchronoss Technologies by 60.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,180 shares of the software maker’s stock worth $151,000 after acquiring an additional 6,080 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.
SNCR stock traded up $0.57 during mid-day trading on Wednesday, reaching $10.51. The company’s stock had a trading volume of 655,720 shares, compared to its average volume of 961,628. Synchronoss Technologies, Inc. has a 52-week low of $6.51 and a 52-week high of $26.14. The company has a market cap of $478.95, a PE ratio of 23.57 and a beta of 1.08.
Several research analysts have recently commented on SNCR shares. Credit Suisse Group reissued an “underperform” rating and issued a $8.00 target price (down from $13.00) on shares of Synchronoss Technologies in a report on Thursday, December 7th. Deutsche Bank reaffirmed a “hold” rating and set a $8.00 price objective (down previously from $18.00) on shares of Synchronoss Technologies in a report on Thursday, December 7th. BidaskClub downgraded Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, December 9th. Finally, Zacks Investment Research raised Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $15.88.
In related news, Chairman Stephen G. Waldis sold 30,316 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $8.78, for a total value of $266,174.48. Following the completion of the sale, the chairman now directly owns 542,770 shares in the company, valued at approximately $4,765,520.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Garcia sold 27,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $8.94, for a total transaction of $242,417.04. Following the sale, the insider now owns 173,980 shares of the company’s stock, valued at $1,555,381.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,776 shares of company stock valued at $876,377. Company insiders own 10.50% of the company’s stock.
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Synchronoss Technologies 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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