Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO David D. Clark sold 17,942 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $3.30, for a total transaction of $59,208.60. Following the completion of the transaction, the chief financial officer now directly owns 232,526 shares in the company, valued at $767,335.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
NASDAQ:SNCR opened at $3.24 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.91. Synchronoss Technologies, Inc. has a fifty-two week low of $2.17 and a fifty-two week high of $9.05. The stock has a market cap of $143.43 million, a PE ratio of -1.09 and a beta of 0.96. The firm’s fifty day simple moving average is $3.15 and its 200-day simple moving average is $3.99.
Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Monday, May 11th. The software maker reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.48. The firm had revenue of $77.12 million for the quarter, compared to analysts’ expectations of $74.00 million. Synchronoss Technologies had a negative net margin of 29.32% and a negative return on equity of 26.69%. Equities analysts anticipate that Synchronoss Technologies, Inc. will post -0.85 earnings per share for the current year.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Saturday, March 21st. Roth Capital reissued a “market perform” rating and issued a $9.00 price objective on shares of Synchronoss Technologies in a research note on Thursday, June 18th. Northland Securities assumed coverage on shares of Synchronoss Technologies in a research note on Friday, June 26th. They issued a “buy” rating and a $6.50 price objective on the stock. Finally, ValuEngine cut shares of Synchronoss Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $8.19.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Synchronoss Technologies by 3.0% in the 1st quarter. BlackRock Inc. now owns 2,807,979 shares of the software maker’s stock valued at $8,565,000 after acquiring an additional 83,094 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Synchronoss Technologies by 46.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,685,601 shares of the software maker’s stock valued at $5,141,000 after acquiring an additional 531,595 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Synchronoss Technologies by 3.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,346,998 shares of the software maker’s stock valued at $6,398,000 after purchasing an additional 42,900 shares in the last quarter. State Street Corp lifted its holdings in Synchronoss Technologies by 2.7% in the 4th quarter. State Street Corp now owns 764,150 shares of the software maker’s stock valued at $3,630,000 after purchasing an additional 20,138 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Synchronoss Technologies by 60.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 644,428 shares of the software maker’s stock valued at $3,061,000 after purchasing an additional 244,032 shares in the last quarter. 53.24% of the stock is currently owned by hedge funds and other institutional investors.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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