Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director William J. Cadogan purchased 96,152 shares of Synchronoss Technologies stock in a transaction dated Thursday, September 6th. The stock was bought at an average price of $5.87 per share, for a total transaction of $564,412.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SNCR stock opened at $6.04 on Friday. Synchronoss Technologies, Inc. has a 1-year low of $3.90 and a 1-year high of $17.09.

Synchronoss Technologies (NASDAQ:SNCR) last posted its earnings results on Thursday, August 9th. The software maker reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.02. The business had revenue of $76.74 million for the quarter, compared to the consensus estimate of $78.00 million. sell-side analysts anticipate that Synchronoss Technologies, Inc. will post 0.35 earnings per share for the current year.

Several research analysts have recently issued reports on SNCR shares. Stifel Nicolaus lowered Synchronoss Technologies from a “hold” rating to a “sell” rating and reduced their price target for the stock from $8.00 to $3.00 in a research report on Monday, July 30th. Zacks Investment Research lowered Synchronoss Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Synchronoss Technologies currently has a consensus rating of “Sell” and an average target price of $9.83.

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Synchronoss Technologies by 44.3% during the first quarter. Russell Investments Group Ltd. now owns 107,091 shares of the software maker’s stock worth $1,130,000 after acquiring an additional 32,869 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Synchronoss Technologies by 2.4% during the first quarter. Principal Financial Group Inc. now owns 335,057 shares of the software maker’s stock worth $3,535,000 after acquiring an additional 7,946 shares in the last quarter. SG Americas Securities LLC bought a new position in Synchronoss Technologies during the first quarter worth about $119,000. Highbridge Capital Management LLC bought a new position in Synchronoss Technologies during the first quarter worth about $188,000. Finally, BNP Paribas Arbitrage SA bought a new position in Synchronoss Technologies during the first quarter worth about $152,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud solutions and software-based activation for connected devices worldwide. The company's products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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