Synchronoss Technologies (NASDAQ:SNCR) Upgraded to "Strong-Buy" at Roth Capital

Roth Capital upgraded shares of Synchronoss Technologies (NASDAQ:SNCR - Free Report) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on SNCR. StockNews.com lowered shares of Synchronoss Technologies from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Roth Mkm upgraded shares of Synchronoss Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $11.00 to $13.00 in a research note on Monday.

Synchronoss Technologies Stock Performance

Shares of NASDAQ SNCR traded down $0.15 during trading on Monday, reaching $9.41. 78,395 shares of the stock traded hands, compared to its average volume of 85,985. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $102.00 million, a P/E ratio of -2.37 and a beta of 1.99. Synchronoss Technologies has a 52-week low of $3.55 and a 52-week high of $15.46. The company has a 50-day moving average of $11.60 and a 200-day moving average of $10.85.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, Director Martin Francis Bernstein sold 2,319 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $14.20, for a total value of $32,929.80. Following the transaction, the director now directly owns 63,456 shares in the company, valued at $901,075.20. This represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick Joseph Doran sold 3,250 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total value of $48,002.50. Following the transaction, the executive vice president now directly owns 107,483 shares of the company's stock, valued at $1,587,523.91. The trade was a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,165 shares of company stock valued at $513,165 in the last quarter. 17.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNCR. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 worth $8,395,000 after purchasing an additional 13,984 shares in the last quarter. Geode Capital Management LLC grew its position in Synchronoss Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker's stock valued at $1,557,000 after acquiring an additional 4,159 shares during the last quarter. Renaissance Technologies LLC grew its position in Synchronoss Technologies by 9.3% during the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker's stock valued at $734,000 after acquiring an additional 6,700 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Synchronoss Technologies by 40.6% during the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker's stock worth $654,000 after acquiring an additional 20,368 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 acquiring an additional 4,000 shares during the last quarter. Institutional investors own 51.71% of the company's stock.

Synchronoss Technologies Company 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.