State of New Jersey Common Pension Fund D purchased a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the second quarter, Holdings Channel reports. The fund purchased 500,000 shares of the software maker’s stock, valued at approximately $8,225,000.

A number of other large investors have also modified their holdings of SNCR. State of Alaska Department of Revenue boosted its stake in shares of Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock valued at $115,000 after buying an additional 180 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Synchronoss Technologies during the first quarter valued at approximately $118,000. Acrospire Investment Management LLC boosted its stake in shares of Synchronoss Technologies by 55,900.0% in the first quarter. Acrospire Investment Management LLC now owns 7,280 shares of the software maker’s stock valued at $178,000 after buying an additional 7,267 shares during the period. First Trust Advisors LP acquired a new stake in shares of Synchronoss Technologies during the first quarter valued at approximately $212,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Synchronoss Technologies by 13.9% in the first quarter. BNP Paribas Arbitrage SA now owns 8,792 shares of the software maker’s stock valued at $215,000 after buying an additional 1,072 shares during the period. Hedge funds and other institutional investors own 90.44% of the company’s stock.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) opened at 16.61 on Friday. Synchronoss Technologies, Inc. has a 52 week low of $10.11 and a 52 week high of $49.94. The stock has a market cap of $730.56 million, a PE ratio of 36.91 and a beta of 1.74. The company has a 50-day moving average price of $16.25 and a 200-day moving average price of $21.51.

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Several equities research analysts have commented on the stock. UBS Group AG cut shares of Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, April 27th. BidaskClub cut shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Drexel Hamilton cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price target on shares of Synchronoss Technologies in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.00.

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

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