Exane Derivatives Acquires Shares of 20,349 Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Exane Derivatives bought a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,349 shares of the software maker’s stock, valued at approximately $335,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Synchronoss Technologies by 6.8% in the fourth quarter. State Street Corp now owns 901,973 shares of the software maker’s stock valued at $34,545,000 after buying an additional 57,560 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Synchronoss Technologies by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,221,337 shares of the software maker’s stock valued at $46,778,000 after buying an additional 81,926 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Synchronoss Technologies by 263.1% in the fourth quarter. Renaissance Technologies LLC now owns 73,700 shares of the software maker’s stock valued at $2,823,000 after buying an additional 53,400 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Synchronoss Technologies by 26.2% in the fourth quarter. Guggenheim Capital LLC now owns 77,683 shares of the software maker’s stock valued at $2,975,000 after buying an additional 16,139 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Synchronoss Technologies by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,965 shares of the software maker’s stock valued at $152,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 90.44% of the company’s stock.

Shares of Synchronoss Technologies, Inc. (SNCR) traded up 0.24% during midday trading on Friday, hitting $16.65. The stock had a trading volume of 363,018 shares. The company’s 50 day moving average is $16.38 and its 200 day moving average is $21.35. Synchronoss Technologies, Inc. has a 52-week low of $10.11 and a 52-week high of $49.94. The company has a market cap of $732.32 million, a PE ratio of 37.00 and a beta of 1.74.

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Several research analysts have commented on SNCR shares. Wells Fargo & Company downgraded Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. J P Morgan Chase & Co cut Synchronoss Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $65.00 to $27.00 in a report on Thursday, April 27th. Credit Suisse Group cut Synchronoss Technologies from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $13.00 in a report on Thursday, April 27th. UBS AG cut Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 27th. Finally, Stifel Nicolaus decreased their price objective on Synchronoss Technologies from $32.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $24.00.

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.

Institutional Ownership by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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