California Public Employees Retirement System decreased its position in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 9.4% during the first quarter, Holdings Channel reports. The fund owned 46,400 shares of the software maker’s stock after selling 4,800 shares during the period. California Public Employees Retirement System’s holdings in Synchronoss Technologies were worth $1,132,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Synchronoss Technologies by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,630 shares of the software maker’s stock worth $235,000 after buying an additional 110 shares during the period. State of Alaska Department of Revenue boosted its position in Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock worth $115,000 after buying an additional 180 shares during the last quarter. Texas Permanent School Fund boosted its position in Synchronoss Technologies by 0.8% in the first quarter. Texas Permanent School Fund now owns 30,973 shares of the software maker’s stock worth $756,000 after buying an additional 236 shares during the last quarter. Capstone Asset Management Co. boosted its position in Synchronoss Technologies by 2.5% in the first quarter. Capstone Asset Management Co. now owns 13,583 shares of the software maker’s stock worth $331,000 after buying an additional 337 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Synchronoss Technologies by 3.0% in the first quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the software maker’s stock worth $425,000 after buying an additional 500 shares during the last quarter. Institutional investors own 90.44% of the company’s stock.

Synchronoss Technologies, Inc. (NASDAQ SNCR) traded up 0.30% during mid-day trading on Friday, reaching $16.66. The company had a trading volume of 60,447 shares. The stock has a 50 day moving average price of $16.25 and a 200 day moving average price of $21.51. The company has a market capitalization of $732.76 million, a P/E ratio of 37.02 and a beta of 1.74. Synchronoss Technologies, Inc. has a one year low of $10.11 and a one year high of $49.94.

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A number of research firms have issued reports on SNCR. Credit Suisse Group cut Synchronoss Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $13.00 in a research note on Thursday, April 27th. UBS AG cut Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, April 27th. Zacks Investment Research raised Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Wells Fargo & Company cut Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Finally, Drexel Hamilton cut Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Synchronoss Technologies currently has an average rating of “Hold” and an average target price of $24.00.

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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