Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw unusually-high trading volume on Monday . Approximately 10,252,753 shares traded hands during trading, an increase of 734% from the previous session’s volume of 1,229,210 shares.The stock last traded at $10.69 and had previously closed at $9.33.

A number of research firms have recently commented on SNCR. Drexel Hamilton downgraded Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $16.00 target price on shares of Synchronoss Technologies in a report on Friday, June 23rd. 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. BidaskClub cut shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. downgraded shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Synchronoss Technologies presently has a consensus rating of “Hold” and an average target price of $20.13.

The firm’s 50-day moving average price is $14.39 and its 200 day moving average price is $16.61. The firm has a market cap of $476.34 million, a P/E ratio of 24.07 and a beta of 1.61.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Synchronoss Technologies by 155,453.2% during the first quarter. BlackRock Inc. now owns 5,134,811 shares of the software maker’s stock worth $125,291,000 after acquiring an additional 5,131,510 shares in the last quarter. Vanguard Group Inc. boosted its stake in Synchronoss Technologies by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 3,652,395 shares of the software maker’s stock valued at $89,119,000 after purchasing an additional 148,136 shares during the period. Dimensional Fund Advisors LP boosted its stake in Synchronoss Technologies by 29.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock valued at $38,782,000 after purchasing an additional 540,181 shares during the period. Elk Creek Partners LLC boosted its stake in Synchronoss Technologies by 11.7% in the 2nd quarter. Elk Creek Partners LLC now owns 2,339,095 shares of the software maker’s stock valued at $38,478,000 after purchasing an additional 245,056 shares during the period. Finally, State Street Corp boosted its stake in Synchronoss Technologies by 8.1% in the 2nd quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock valued at $17,346,000 after purchasing an additional 78,729 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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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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