Synchronoss Technologies Inc. (SNCR) CEO Stephen G. Waldis Sells 13,000 Shares
Synchronoss Technologies Inc. (NASDAQ:SNCR) CEO Stephen G. Waldis sold 13,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $40.85, for a total value of $531,050.00. Following the completion of the sale, the chief executive officer now directly owns 450,110 shares in the company, valued at approximately $18,386,993.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Synchronoss Technologies Inc. (NASDAQ:SNCR) opened at 40.27 on Friday. The firm has a market capitalization of $1.75 billion, a P/E ratio of 682.54 and a beta of 2.15. The firm’s 50-day moving average price is $41.47 and its 200 day moving average price is $36.33. Synchronoss Technologies Inc. has a one year low of $20.33 and a one year high of $43.65.
Synchronoss Technologies (NASDAQ:SNCR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. Synchronoss Technologies had a net margin of 0.52% and a return on equity of 13.12%. The business had revenue of $161.49 million for the quarter, compared to analysts’ expectations of $156.99 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts anticipate that Synchronoss Technologies Inc. will post $2.51 earnings per share for the current fiscal year.
A number of brokerages have weighed in on SNCR. Zacks Investment Research raised Synchronoss Technologies from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Tuesday, August 9th. Stephens began coverage on Synchronoss Technologies in a report on Wednesday, August 10th. They issued an “overweight” rating and a $50.00 target price on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Synchronoss Technologies in a report on Friday, June 10th. Drexel Hamilton reissued a “buy” rating on shares of Synchronoss Technologies in a report on Friday, June 10th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Synchronoss Technologies in a report on Friday, June 10th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.44.
A number of large investors have recently modified their holdings of the stock. Eqis Capital Management Inc. boosted its stake in shares of Synchronoss Technologies by 19.0% in the third quarter. Eqis Capital Management Inc. now owns 28,605 shares of the company’s stock worth $1,178,000 after buying an additional 4,577 shares during the last quarter. Beacon Financial Group boosted its position in Synchronoss Technologies by 39.9% in the third quarter. Beacon Financial Group now owns 13,493 shares of the company’s stock valued at $556,000 after buying an additional 3,845 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Synchronoss Technologies during the second quarter valued at $1,220,000. Mason Street Advisors LLC purchased a new position in Synchronoss Technologies during the second quarter valued at $251,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Synchronoss Technologies during the second quarter valued at $553,000. 81.27% of the stock is currently owned by institutional investors and hedge funds.
About Synchronoss Technologies
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.
Receive News & Ratings for Synchronoss Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.