State Street Corp increased its position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 8.2% during the first quarter, Holdings Channel reports. The institutional investor owned 975,857 shares of the software maker’s stock after buying an additional 73,884 shares during the period. State Street Corp’s holdings in Synchronoss Technologies were worth $23,809,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Synchronoss Technologies by 263.1% in the fourth quarter. Renaissance Technologies LLC now owns 73,700 shares of the software maker’s stock worth $2,823,000 after buying an additional 53,400 shares in the last quarter. Norges Bank bought a new position in Synchronoss Technologies during the fourth quarter worth $11,971,000. UBS Asset Management Americas Inc. increased its position in Synchronoss Technologies by 17.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 455,387 shares of the software maker’s stock worth $17,441,000 after buying an additional 66,692 shares in the last quarter. Teachers Advisors LLC increased its position in Synchronoss Technologies by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 349,704 shares of the software maker’s stock worth $13,394,000 after buying an additional 1,250 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its position in Synchronoss Technologies by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 375,850 shares of the software maker’s stock worth $9,306,000 after buying an additional 25,815 shares in the last quarter. Hedge funds and other institutional investors own 90.44% of the company’s stock.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) traded down 1.08% during mid-day trading on Wednesday, hitting $16.42. The stock had a trading volume of 92,036 shares. The stock has a market cap of $722.20 million, a PE ratio of 36.49 and a beta of 1.74. Synchronoss Technologies, Inc. has a 1-year low of $10.11 and a 1-year high of $49.94. The firm’s 50-day moving average price is $15.57 and its 200-day moving average price is $22.13.

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SNCR has been the subject of a number of analyst reports. Zacks Investment Research downgraded Synchronoss Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. 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 cut their price objective for the company from $65.00 to $27.00 in a research report on Thursday, April 27th. Credit Suisse Group cut Synchronoss Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $45.00 to $13.00 in a research report on Thursday, April 27th. Finally, UBS AG cut Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.71.

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.

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

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