Insider Buying: Synchronoss Technologies, Inc. (SNCR) CFO Acquires 10,000 Shares of Stock
Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO David D. Clark purchased 10,000 shares of Synchronoss Technologies stock in a transaction dated Thursday, November 15th. The shares were bought at an average price of $5.94 per share, for a total transaction of $59,400.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ:SNCR opened at $6.35 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.99 and a quick ratio of 0.99. Synchronoss Technologies, Inc. has a 12-month low of $3.90 and a 12-month high of $12.12.
Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Wednesday, November 7th. The software maker reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.47). The business had revenue of $83.30 million for the quarter, compared to analyst estimates of $83.00 million. Synchronoss Technologies had a negative return on equity of 48.08% and a negative net margin of 36.27%. Synchronoss Technologies’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts expect that Synchronoss Technologies, Inc. will post -2.62 EPS for the current fiscal year.
Several large investors have recently modified their holdings of SNCR. FNY Investment Advisers LLC acquired a new stake in shares of Synchronoss Technologies during the 3rd quarter worth about $171,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synchronoss Technologies during the 2nd quarter worth about $258,000. Finally, Principal Financial Group Inc. increased its position in shares of Synchronoss Technologies by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 335,057 shares of the software maker’s stock worth $3,535,000 after purchasing an additional 7,946 shares during the last quarter. 10.97% of the stock is owned by hedge funds and other institutional investors.
About Synchronoss Technologies
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its 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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