Public Employees Retirement System of Ohio Cuts Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Public Employees Retirement System of Ohio lowered its position in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,720 shares of the software maker’s stock after selling 4,500 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of Synchronoss Technologies worth $267,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SNCR. Dimensional Fund Advisors LP purchased a new position in shares of Synchronoss Technologies in the fourth quarter valued at $9,209,000. Deutsche Bank AG purchased a new position in shares of Synchronoss Technologies in the fourth quarter valued at $95,000. Alambic Investment Management L.P. purchased a new position in shares of Synchronoss Technologies in the first quarter valued at $98,000. Sawtooth Solutions LLC purchased a new position in shares of Synchronoss Technologies in the first quarter valued at $193,000. Finally, AE Wealth Management LLC increased its position in shares of Synchronoss Technologies by 94.5% in the second quarter. AE Wealth Management LLC now owns 58,506 shares of the software maker’s stock valued at $463,000 after buying an additional 28,423 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Shares of SNCR traded down $0.01 during trading hours on Monday, reaching $6.00. 4,364 shares of the company traded hands, compared to its average volume of 600,539. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $266.28 million, a PE ratio of -1.23 and a beta of 0.53. Synchronoss Technologies, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $9.05. The stock has a fifty day simple moving average of $7.70 and a 200 day simple moving average of $6.98.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings data on Monday, August 5th. The software maker reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.08. The business had revenue of $77.80 million for the quarter, compared to analyst estimates of $80.19 million. Synchronoss Technologies had a negative return on equity of 81.70% and a negative net margin of 55.89%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.48) earnings per share. Research analysts predict that Synchronoss Technologies, Inc. will post -1.72 EPS for the current fiscal year.

In other Synchronoss Technologies news, CMO Mary P. Clark sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $8.43, for a total value of $37,935.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David D. Clark sold 20,878 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $7.91, for a total value of $165,144.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,042 shares of company stock worth $287,299. Corporate insiders own 30.50% of the company’s stock.

A number of brokerages have recently weighed in on SNCR. Canaccord Genuity began coverage on Synchronoss Technologies in a research report on Tuesday, August 27th. They issued a “buy” rating and a $13.00 price target for the company. ValuEngine lowered Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research raised Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Roth Capital began coverage on Synchronoss Technologies in a research note on Tuesday, June 18th. They set a “buy” rating and a $13.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $9.94.

Synchronoss Technologies Company Profile

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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Institutional Ownership by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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