Synchronoss Technologies Inc. (NASDAQ:SNCR) traded down 1.7% during mid-day trading on Tuesday . The company traded as low as $35.62 and last traded at $35.99, with a volume of 129,125 shares changing hands. The stock had previously closed at $36.63.

A number of equities research analysts have recently issued reports on the stock. Drexel Hamilton reiterated a “buy” rating on shares of Synchronoss Technologies in a research report on Friday, June 10th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Synchronoss Technologies in a research report on Friday, June 10th. Zacks Investment Research downgraded shares of Synchronoss Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Synchronoss Technologies in a research report on Friday, June 10th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.89.

The stock has a market capitalization of $1.57 billion and a PE ratio of 69.53. The company has a 50 day moving average of $34.34 and a 200-day moving average of $31.70.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.29 million. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. Equities analysts anticipate that Synchronoss Technologies Inc. will post $2.45 earnings per share for the current fiscal year.

In other news, CEO Stephen G. Waldis sold 13,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $36.12, for a total value of $469,560.00. Following the sale, the chief executive officer now owns 502,110 shares of the company’s stock, valued at $18,136,213.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles E. Hoffman sold 55,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $35.08, for a total transaction of $1,929,400.00. Following the completion of the sale, the director now directly owns 34,640 shares in the company, valued at approximately $1,215,171.20. The disclosure for this sale can be found here.

Other hedge funds have made changes to their positions in the company. Foresters Investment Management Company Inc. acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth approximately $3,682,000. Redwood Investments LLC raised its stake in shares of Synchronoss Technologies by 34.7% in the fourth quarter. Redwood Investments LLC now owns 68,547 shares of the company’s stock worth $2,415,000 after buying an additional 17,667 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Synchronoss Technologies by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 261,381 shares of the company’s stock worth $9,208,000 after buying an additional 12,806 shares in the last quarter. General American Investors Co. Inc. raised its stake in shares of Synchronoss Technologies by 6.2% in the fourth quarter. General American Investors Co. Inc. now owns 425,534 shares of the company’s stock worth $14,992,000 after buying an additional 25,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Synchronoss Technologies by 28.2% in the fourth quarter. Ameritas Investment Partners Inc. now owns 38,600 shares of the company’s stock worth $1,359,000 after buying an additional 8,500 shares in the last quarter.

Synchronoss Technologies, Inc (Synchronoss) is a mobile innovation company that provides software-based cloud and activation solutions for connected devices to enterprise customers. The Company’s solutions include intelligent connectivity management and content synchronization, backup and sharing service procurement, provisioning, activation, and support that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs), original equipment manufacturers (OEMs) with embedded connectivity, multi-channel retailers and other customers.

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