Synchronoss Technologies, Inc. (NASDAQ:SNCR) Shares Acquired by Man Group plc

Man Group plc raised its position in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 131.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 122,667 shares of the software maker's stock after purchasing an additional 69,569 shares during the period. Man Group plc owned about 1.13% of Synchronoss Technologies worth $1,178,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SNCR. Barclays PLC lifted its position in shares of Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker's stock valued at $85,000 after acquiring an additional 4,919 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Synchronoss Technologies in the fourth quarter valued at $98,000. American Century Companies Inc. purchased a new stake in shares of Synchronoss Technologies in the fourth quarter valued at $103,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Synchronoss Technologies in the fourth quarter valued at $158,000. Finally, Ancora Advisors LLC purchased a new stake in shares of Synchronoss Technologies in the fourth quarter valued at $163,000. Institutional investors and hedge funds own 51.71% of the company's stock.

Wall Street Analyst Weigh In

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 Up 3.7%

Shares of NASDAQ SNCR traded up $0.24 on Wednesday, hitting $6.74. The company had a trading volume of 89,559 shares, compared to its average volume of 81,882. 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, Inc. has a 12-month low of $6.31 and a 12-month high of $15.46. The firm has a market capitalization of $77.51 million, a P/E ratio of -1.73 and a beta of 1.85. The business has a 50 day moving average of $9.59 and a two-hundred day moving average of $9.63.

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

Insider Transactions at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 6,289 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $10.22, for a total transaction of $64,273.58. Following the transaction, the chief executive officer now directly owns 445,564 shares in the company, valued at $4,553,664.08. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 15,804 shares of company stock valued at $164,418. 19.90% of the stock is currently owned by corporate insiders.

Synchronoss Technologies Profile

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.