Allspring Global Investments Holdings LLC Acquires 11,023 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 574,999 shares of the software maker’s stock after acquiring an additional 11,023 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Synchronoss Technologies worth $5,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNCR. Barclays PLC boosted its stake in Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after purchasing an additional 4,919 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Synchronoss Technologies in the third quarter valued at approximately $165,000. XTX Topco Ltd purchased a new position in shares of Synchronoss Technologies during the third quarter valued at approximately $237,000. State Street Corp grew its holdings in Synchronoss Technologies by 12.9% during the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock worth $522,000 after buying an additional 4,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Synchronoss Technologies by 54,341.7% during the third quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker’s stock worth $875,000 after buying an additional 58,689 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

Synchronoss Technologies Price Performance

Shares of NASDAQ SNCR opened at $9.68 on Thursday. The company has a market capitalization of $104.93 million, a PE ratio of -2.49 and a beta of 1.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The stock’s 50 day moving average price is $9.58 and its 200-day moving average price is $11.01. Synchronoss Technologies, Inc. has a twelve month low of $6.02 and a twelve month high of $15.46.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SNCR. Roth Capital raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th. Roth Mkm raised shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $13.00 in a research report on Monday, November 25th.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.