LSV Asset Management Takes $400,000 Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

LSV Asset Management bought a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,700 shares of the software maker's stock, valued at approximately $400,000. LSV Asset Management owned 0.38% of Synchronoss Technologies at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Synchronoss Technologies by 54,341.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker's stock worth $875,000 after buying an additional 58,689 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Synchronoss Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker's stock worth $1,557,000 after purchasing an additional 4,159 shares during the period. Barclays PLC lifted its position in shares of Synchronoss Technologies by 603.6% in the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker's stock worth $85,000 after buying an additional 4,919 shares during the last quarter. State Street Corp lifted its position in shares of Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker's stock worth $522,000 after buying an additional 4,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Synchronoss Technologies by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker's stock valued at $5,468,000 after buying an additional 11,023 shares during the period. 51.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Synchronoss Technologies from a "hold" rating to a "buy" rating in a report on Friday, March 14th.

Synchronoss Technologies Stock Performance

Shares of SNCR traded down $0.05 during midday trading on Friday, hitting $9.76. 78,731 shares of the stock traded hands, compared to its average volume of 75,976. The firm has a market capitalization of $112.15 million, a PE ratio of -2.52 and a beta of 1.78. The business's 50 day moving average price is $10.18 and its two-hundred day moving average price is $10.21. Synchronoss Technologies, Inc. has a 1-year low of $6.02 and a 1-year high of $15.46. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. The company had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.76 million. Equities research analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.34, for a total transaction of $179,802.26. Following the completion of the transaction, the chief executive officer now owns 336,232 shares of the company's stock, valued at $3,476,638.88. This trade represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.90% of the stock is currently owned by insiders.

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.