Chicago Capital Management LLC Takes $1.56 Million Position in Synchronoss Technologies, Inc. $SNCR

Key Points

• Chicago Capital Management acquired 182,470 shares of Synchronoss Technologies (~$1.56M) in Q4, representing about 1.59% of the company and making SNCR its 24th largest holding (1.4% of the firm's portfolio).
• Several other institutions (Allspring, Geode, Marshall Wace, Dimensional, Russell) also increased positions, and institutional investors now own about 51.71% of Synchronoss's stock.
• Analyst sentiment is negative: Weiss Ratings reiterated a "sell (d-)" and the MarketBeat consensus is "Reduce" (two Holds, one Sell).

Chicago Capital Management LLC acquired a new stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 182,470 shares of the software maker's stock, valued at approximately $1,562,000. Synchronoss Technologies accounts for 1.4% of Chicago Capital Management LLC's investment portfolio, making the stock its 24th largest holding. Chicago Capital Management LLC owned approximately 1.59% of Synchronoss Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Synchronoss Technologies by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 563,148 shares of the software maker's stock valued at $3,272,000 after purchasing an additional 21,949 shares during the period. Geode Capital Management LLC raised its holdings in shares of Synchronoss Technologies by 119.7% during the second quarter. Geode Capital Management LLC now owns 235,606 shares of the software maker's stock valued at $1,614,000 after purchasing an additional 128,375 shares during the period. Marshall Wace LLP raised its holdings in shares of Synchronoss Technologies by 12.1% during the second quarter. Marshall Wace LLP now owns 212,355 shares of the software maker's stock valued at $1,455,000 after purchasing an additional 22,917 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Synchronoss Technologies by 7.2% during the third quarter. Dimensional Fund Advisors LP now owns 96,515 shares of the software maker's stock valued at $587,000 after purchasing an additional 6,506 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Synchronoss Technologies by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 87,344 shares of the software maker's stock valued at $598,000 after purchasing an additional 3,374 shares during the period. Institutional investors and hedge funds own 51.71% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Synchronoss Technologies in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Synchronoss Technologies Stock Performance

NASDAQ:SNCR opened at $9.00 on Tuesday. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $103.56 million, a price-to-earnings ratio of -8.82, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41. Synchronoss Technologies, Inc. has a 52 week low of $3.98 and a 52 week high of $11.41. The firm has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $7.88.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company that provides cloud-based digital transformation solutions for communications service providers, enterprises, and financial institutions. The company's platform delivers a suite of products designed to automate and manage the provisioning, activation and lifecycle of devices, subscriptions and services across fixed and mobile networks. Synchronoss's offerings include digital customer engagement tools, identity verification and authentication services, as well as high-volume messaging and collaboration applications.

Founded in 2000 and headquartered in Bridgewater, New Jersey, Synchronoss serves a diverse customer base spanning North America, Europe, Asia and Latin America.

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