Oppenheimer & Co. Inc. increased its stake in Synchronoss Technologies Inc. (NASDAQ:SNCR) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,275 shares of the company’s stock after buying an additional 150 shares during the period. Oppenheimer & Co. Inc.’s holdings in Synchronoss Technologies were worth $359,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SNCR. Oak Ridge Investments LLC boosted its position in shares of Synchronoss Technologies by 0.9% in the second quarter. Oak Ridge Investments LLC now owns 2,718,112 shares of the company’s stock valued at $86,599,000 after buying an additional 23,657 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Synchronoss Technologies by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,061,209 shares of the company’s stock valued at $34,319,000 after buying an additional 48,351 shares during the period. Kennedy Capital Management Inc. raised its stake in Synchronoss Technologies by 0.4% in the first quarter. Kennedy Capital Management Inc. now owns 479,611 shares of the company’s stock valued at $15,511,000 after buying an additional 1,993 shares during the period. WASHINGTON TRUST Co raised its stake in Synchronoss Technologies by 38.9% in the first quarter. WASHINGTON TRUST Co now owns 425,418 shares of the company’s stock valued at $13,758,000 after buying an additional 119,117 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in Synchronoss Technologies by 16.1% in the first quarter. Loomis Sayles & Co. L P now owns 414,722 shares of the company’s stock valued at $13,412,000 after buying an additional 57,625 shares during the period. 81.27% of the stock is currently owned by institutional investors and hedge funds.

Synchronoss Technologies Inc. (NASDAQ:SNCR) traded up 0.474% on Tuesday, hitting $41.295. 227,171 shares of the company were exchanged. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 699.915 and a beta of 2.05. Synchronoss Technologies Inc. has a one year low of $20.33 and a one year high of $43.65. The stock has a 50 day moving average price of $41.00 and a 200 day moving average price of $35.24.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. The company had revenue of $161.49 million for the quarter, compared to analyst estimates of $156.99 million. Synchronoss Technologies had a net margin of 0.52% and a return on equity of 13.12%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. On average, equities research analysts forecast that Synchronoss Technologies Inc. will post $2.51 EPS for the current fiscal year.

SNCR has been the topic of several research reports. Zacks Investment Research upgraded shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective on the stock in a research note on Saturday, June 4th. Drexel Hamilton initiated coverage on shares of Synchronoss Technologies in a research note on Tuesday, May 31st. They set a “buy” rating and a $48.00 price objective on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of Synchronoss Technologies in a research note on Friday, June 10th. Stephens initiated coverage on shares of Synchronoss Technologies in a research note on Wednesday, August 10th. They set an “overweight” rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Synchronoss Technologies in a research note on Friday, June 10th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $47.44.

In other Synchronoss Technologies news, Director Donnie Moore sold 5,500 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $40.63, for a total value of $223,465.00. Following the transaction, the director now directly owns 29,092 shares in the company, valued at $1,182,007.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen G. Waldis sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $32.32, for a total transaction of $420,160.00. Following the completion of the transaction, the chief executive officer now owns 489,110 shares in the company, valued at $15,808,035.20. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc (Synchronoss) offers cloud solutions and software-based activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Company operates in providing cloud solutions and software-based activation for connected devices segment. Its software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.

5 Day Chart for NASDAQ:SNCR

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