Barclays PLC Buys 8,992 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Barclays PLC boosted its stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 156.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,726 shares of the software maker’s stock after purchasing an additional 8,992 shares during the period. Barclays PLC’s holdings in Synchronoss Technologies were worth $141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Synchronoss Technologies by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker’s stock worth $5,468,000 after purchasing an additional 11,023 shares during the last quarter. Geode Capital Management LLC boosted its position in Synchronoss Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock valued at $1,022,000 after buying an additional 1,851 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Synchronoss Technologies by 9.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker’s stock worth $774,000 after acquiring an additional 7,171 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Synchronoss Technologies by 22.6% in the fourth quarter. JPMorgan Chase & Co. now owns 72,107 shares of the software maker’s stock valued at $692,000 after acquiring an additional 13,310 shares during the period. Finally, LSV Asset Management bought a new position in shares of Synchronoss Technologies during the fourth quarter valued at about $400,000. Institutional investors own 51.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

Insider Activity

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total transaction of $179,802.26. Following the completion of the sale, the chief executive officer now owns 336,232 shares of the company’s stock, valued at $3,476,638.88. This trade represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 33,193 shares of company stock worth $344,220. Corporate insiders own 17.90% of the company’s stock.

Synchronoss Technologies Price Performance

Shares of Synchronoss Technologies stock opened at $7.44 on Wednesday. The business has a 50 day moving average of $10.28 and a 200 day moving average of $9.91. Synchronoss Technologies, Inc. has a 52 week low of $7.13 and a 52 week high of $15.46. The company has a market cap of $85.55 million, a PE ratio of -1.92 and a beta of 1.85. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.10 by $0.75. The business had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. As a group, equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

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.