Man Group plc Increases Stock Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Man Group plc raised its holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 131.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,667 shares of the software maker's stock after buying an additional 69,569 shares during the period. Man Group plc owned about 1.13% of Synchronoss Technologies worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNCR. Barclays PLC increased its position in shares of Synchronoss Technologies by 603.6% during the third quarter. Barclays PLC now owns 5,734 shares of the software maker's stock worth $85,000 after purchasing an additional 4,919 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth about $98,000. American Century Companies Inc. acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth about $103,000. Integrated Quantitative Investments LLC acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth about $158,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth about $163,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 6,979 shares of Synchronoss Technologies stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $10.50, for a total value of $73,279.50. Following the sale, the chief executive officer now owns 451,853 shares of the company's stock, valued at approximately $4,744,456.50. The trade was a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 15,804 shares of company stock worth $164,418 in the last quarter. Company insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Synchronoss Technologies from a "hold" rating to a "buy" rating in a research report on Friday, March 14th.

Synchronoss Technologies Stock Performance

SNCR stock traded down $0.24 during trading on Thursday, hitting $6.55. The company had a trading volume of 37,254 shares, compared to its average volume of 81,974. The firm has a market cap of $75.25 million, a PE ratio of -1.69 and a beta of 1.85. Synchronoss Technologies, Inc. has a 1-year low of $6.31 and a 1-year high of $15.46. The firm has a 50-day moving average price of $9.48 and a 200-day moving average price of $9.61. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.75. The firm had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.76 million. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. On average, analysts expect 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.