JPMorgan Chase & Co. Purchases 58,689 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

JPMorgan Chase & Co. grew its position in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 54,341.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 58,797 shares of the software maker's stock after acquiring an additional 58,689 shares during the period. JPMorgan Chase & Co. owned 0.54% of Synchronoss Technologies worth $875,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker's stock valued at $654,000 after purchasing an additional 20,368 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Synchronoss Technologies in the third quarter valued at approximately $237,000. Allspring Global Investments Holdings LLC raised its holdings in Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker's stock valued at $8,395,000 after buying an additional 13,984 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Synchronoss Technologies during the 3rd quarter worth approximately $165,000. Finally, Renaissance Technologies LLC grew its holdings in Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker's stock worth $734,000 after acquiring an additional 6,700 shares during the last quarter. Institutional investors and hedge funds own 51.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNCR shares. Roth Mkm raised shares of Synchronoss Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $11.00 to $13.00 in a research note on Monday, November 25th. Roth Capital raised shares of Synchronoss Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 25th.

Synchronoss Technologies Trading Down 0.7 %

SNCR traded down $0.07 during trading on Friday, reaching $10.14. 34,795 shares of the stock traded hands, compared to its average volume of 59,659. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The stock's 50-day moving average is $9.46 and its 200 day moving average is $11.00. Synchronoss Technologies, Inc. has a 12 month low of $5.75 and a 12 month high of $15.46. The stock has a market capitalization of $109.91 million, a PE ratio of -2.61 and a beta of 1.97.

Synchronoss Technologies Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.