California Public Employees Retirement System purchased a new position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) in the 4th quarter, Holdings Channel reports. The firm purchased 56,500 shares of the software maker’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D purchased a new stake in Synchronoss Technologies in the 4th quarter valued at $7,675,000. NJ State Employees Deferred Compensation Plan purchased a new stake in Synchronoss Technologies in the 4th quarter valued at $368,000. Supplemental Annuity Collective Trust of NJ purchased a new stake in Synchronoss Technologies in the 4th quarter valued at $196,000. New Jersey Better Educational Savings Trust purchased a new stake in Synchronoss Technologies in the 4th quarter valued at $160,000. Finally, Wealthsource Partners LLC purchased a new stake in Synchronoss Technologies in the 4th quarter valued at $157,000. Hedge funds and other institutional investors own 39.52% of the company’s stock.

In other news, Chairman Stephen G. Waldis sold 8,880 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $8.13, for a total transaction of $72,194.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn Lurie sold 14,634 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $7.98, for a total value of $116,779.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,907 shares of company stock valued at $300,392. Company insiders own 34.90% of the company’s stock.

Shares of NASDAQ:SNCR opened at $5.65 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $239.06 million, a price-to-earnings ratio of -1.15 and a beta of 0.67. Synchronoss Technologies, Inc. has a 52-week low of $3.90 and a 52-week high of $12.12.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings results on Tuesday, March 12th. The software maker reported ($2.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($2.19). The business had revenue of $82.10 million for the quarter, compared to analysts’ expectations of $86.38 million. Synchronoss Technologies had a negative return on equity of 66.22% and a negative net margin of 73.58%. As a group, equities analysts expect that Synchronoss Technologies, Inc. will post -1.34 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. ValuEngine upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Synchronoss Technologies presently has an average rating of “Hold” and a consensus price target of $6.88.

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About Synchronoss Technologies

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

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