Western Standard LLC Makes New Investment in Synchronoss Technologies, Inc. $SNCR

Western Standard LLC bought a new position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 195,117 shares of the software maker’s stock, valued at approximately $1,670,000. Synchronoss Technologies makes up 0.8% of Western Standard LLC’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Chicago Capital Management LLC purchased a new stake in Synchronoss Technologies during the fourth quarter worth $1,562,000. New York State Common Retirement Fund purchased a new stake in Synchronoss Technologies during the second quarter worth $109,000. Engineers Gate Manager LP purchased a new stake in Synchronoss Technologies during the second quarter worth $97,000. Sei Investments Co. boosted its position in Synchronoss Technologies by 23.4% during the third quarter. Sei Investments Co. now owns 14,745 shares of the software maker’s stock worth $90,000 after purchasing an additional 2,794 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Synchronoss Technologies in the second quarter valued at $88,000. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Synchronoss Technologies in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Synchronoss Technologies currently has an average rating of “Reduce”.

Synchronoss Technologies Price Performance

Shares of NASDAQ:SNCR opened at $9.00 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 3.13. Synchronoss Technologies, Inc. has a 52-week low of $3.98 and a 52-week high of $11.41. The stock’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $7.96. The company has a market capitalization of $103.56 million, a P/E ratio of -8.82, a P/E/G ratio of 0.59 and a beta of 1.41.

Synchronoss Technologies Profile

Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company’s platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss’s offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.

Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.