First Trust Advisors LP raised its position in Synchronoss Technologies Inc. (NASDAQ:SNCR) by 44.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,865 shares of the company’s stock after buying an additional 3,986 shares during the period. First Trust Advisors LP’s holdings in Synchronoss Technologies were worth $410,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Integre Asset Management LLC acquired a new stake in shares of Synchronoss Technologies during the first quarter worth $589,000. Nuveen Asset Management LLC increased its stake in Synchronoss Technologies by 6.2% in the first quarter. Nuveen Asset Management LLC now owns 85,225 shares of the company’s stock worth $2,757,000 after buying an additional 4,946 shares during the period. Granahan Investment Management Inc. MA increased its stake in Synchronoss Technologies by 40.8% in the first quarter. Granahan Investment Management Inc. MA now owns 360,100 shares of the company’s stock worth $11,646,000 after buying an additional 104,400 shares during the period. Kennedy Capital Management Inc. increased its stake in Synchronoss Technologies by 0.4% in the first quarter. Kennedy Capital Management Inc. now owns 479,611 shares of the company’s stock worth $15,511,000 after buying an additional 1,993 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in Synchronoss Technologies by 16.1% in the first quarter. Loomis Sayles & Co. L P now owns 414,722 shares of the company’s stock worth $13,412,000 after buying an additional 57,625 shares during the period. Institutional investors and hedge funds own 81.29% of the company’s stock.
Shares of Synchronoss Technologies Inc. (NASDAQ:SNCR) traded down 0.69% on Friday, reaching $37.47. The company’s stock had a trading volume of 95,663 shares. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 635.08 and a beta of 2.15. The stock has a 50-day moving average price of $41.32 and a 200-day moving average price of $36.53. Synchronoss Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $43.65.
Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Synchronoss Technologies had a return on equity of 13.12% and a net margin of 0.52%. The business had revenue of $161.49 million for the quarter, compared to the consensus estimate of $156.99 million. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Synchronoss Technologies Inc. will post $2.51 EPS for the current year.
A number of equities research analysts recently commented on SNCR shares. Zacks Investment Research downgraded Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 7th. Stephens started coverage on Synchronoss Technologies in a report on Wednesday, August 10th. They set an “overweight” rating and a $50.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $47.44.
In related news, CEO Stephen G. Waldis sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $40.85, for a total transaction of $531,050.00. Following the transaction, the chief executive officer now owns 450,110 shares in the company, valued at approximately $18,386,993.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donnie Moore sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $40.63, for a total value of $223,465.00. Following the transaction, the director now owns 29,092 shares in the company, valued at approximately $1,182,007.96. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc (Synchronoss) offers cloud solutions and software-based activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Company operates in providing cloud solutions and software-based activation for connected devices segment. Its software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.