Russell Investments Group Ltd. Acquires 7,961 Shares of Synchronoss Technologies, Inc. (SNCR)
Russell Investments Group Ltd. increased its holdings in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 18.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,034 shares of the software maker’s stock after buying an additional 7,961 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Synchronoss Technologies worth $840,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in SNCR. Mckinley Capital Management LLC Delaware purchased a new stake in Synchronoss Technologies during the 1st quarter worth approximately $118,000. State of Alaska Department of Revenue grew its holdings in 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 worth $140,000 after acquiring an additional 3,791 shares in the last quarter. First Trust Advisors LP acquired a new position in Synchronoss Technologies during the 1st quarter worth approximately $212,000. BNP Paribas Arbitrage SA grew its holdings in Synchronoss Technologies by 13.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,792 shares of the software maker’s stock worth $215,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Synchronoss Technologies during the 1st quarter worth approximately $222,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors.
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Synchronoss Technologies, Inc. (NASDAQ SNCR) traded down 1.09% during mid-day trading on Friday, reaching $16.32. 197,240 shares of the company traded hands. The firm’s 50-day moving average is $16.62 and its 200 day moving average is $18.23. Synchronoss Technologies, Inc. has a 52-week low of $10.11 and a 52-week high of $49.94. The stock has a market capitalization of $717.80 million, a PE ratio of 36.27 and a beta of 1.69.
SNCR has been the subject of several analyst reports. ValuEngine cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group cut shares of Synchronoss Technologies from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a report on Monday, May 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 price target on shares of Synchronoss Technologies in a report on Friday, June 23rd. BidaskClub upgraded shares of Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Drexel Hamilton cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $24.00.
About Synchronoss Technologies
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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