Chatham Capital Group Inc. Holds Position in Synchronoss Technologies Inc. (SNCR)
Chatham Capital Group Inc. maintained its position in Synchronoss Technologies Inc. (NASDAQ:SNCR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,225 shares of the company’s stock at the end of the second quarter. Chatham Capital Group Inc.’s holdings in Synchronoss Technologies were worth $995,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Synchronoss Technologies by 19.0% in the first quarter. BlackRock Inc. now owns 3,095 shares of the company’s stock valued at $100,000 after buying an additional 494 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Synchronoss Technologies during the second quarter valued at about $250,000. Beacon Financial Group acquired a new stake in shares of Synchronoss Technologies during the second quarter valued at about $304,000. BNP Paribas Arbitrage SA boosted its stake in shares of Synchronoss Technologies by 119.2% in the second quarter. BNP Paribas Arbitrage SA now owns 12,611 shares of the company’s stock valued at $402,000 after buying an additional 6,857 shares in the last quarter. Finally, Nisa Investment Advisors L.L.C. boosted its stake in shares of Synchronoss Technologies by 71.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 12,500 shares of the company’s stock valued at $404,000 after buying an additional 5,200 shares in the last quarter. 81.21% of the stock is currently owned by institutional investors.
Shares of Synchronoss Technologies Inc. (NASDAQ:SNCR) traded down 0.86% during trading on Monday, reaching $36.78. 395,293 shares of the company’s stock traded hands. The stock has a market capitalization of $1.59 billion, a PE ratio of 623.39 and a beta of 2.15. The company has a 50 day moving average price of $41.21 and a 200 day moving average price of $36.57. Synchronoss Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $43.65.
Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. The firm had revenue of $161.49 million for the quarter, compared to analyst estimates of $156.99 million. Synchronoss Technologies had a return on equity of 13.12% and a net margin of 0.52%. Synchronoss Technologies’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. On average, equities analysts forecast that Synchronoss Technologies Inc. will post $2.51 EPS for the current fiscal year.
Several brokerages have recently issued reports on SNCR. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, August 9th. Stephens began coverage on shares of Synchronoss Technologies in a research report on Wednesday, August 10th. They set an “overweight” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $47.44.
In other Synchronoss Technologies news, Director Donnie Moore sold 5,500 shares of Synchronoss Technologies stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $39.38, for a total transaction of $216,590.00. Following the sale, the director now directly owns 25,592 shares in the company, valued at approximately $1,007,812.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen G. Waldis sold 13,000 shares of Synchronoss Technologies stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $40.43, for a total value of $525,590.00. Following the sale, the chief executive officer now owns 463,110 shares in the company, valued at $18,723,537.30. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.
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.
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