Western Standard LLC Takes Position in Synchronoss Technologies, Inc. $SNCR

Western Standard LLC purchased a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 195,117 shares of the software maker's stock, valued at approximately $1,670,000. Synchronoss Technologies makes up 0.8% of Western Standard LLC's holdings, making the stock its 24th biggest holding. Western Standard LLC owned 1.70% of Synchronoss Technologies as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Synchronoss Technologies by 4.7% in the second quarter. Bank of America Corp DE now owns 50,508 shares of the software maker's stock valued at $346,000 after buying an additional 2,280 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Synchronoss Technologies by 23.4% in the third quarter. Sei Investments Co. now owns 14,745 shares of the software maker's stock valued at $90,000 after buying an additional 2,794 shares in the last quarter. Heron Bay Capital Management boosted its stake in shares of Synchronoss Technologies by 10.6% in the third quarter. Heron Bay Capital Management now owns 33,099 shares of the software maker's stock valued at $201,000 after buying an additional 3,182 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Synchronoss Technologies by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 33,261 shares of the software maker's stock valued at $202,000 after buying an additional 3,189 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Synchronoss Technologies by 4.0% in the second quarter. Russell Investments Group Ltd. now owns 87,344 shares of the software maker's stock valued at $598,000 after buying an additional 3,374 shares in the last quarter. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

Synchronoss Technologies Price Performance

SNCR opened at $9.00 on Friday. The business's fifty day moving average is $9.00 and its two-hundred day moving average is $7.96. 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 company has a market cap of $103.56 million, a price-to-earnings ratio of -8.82, a PEG ratio of 0.59 and a beta of 1.41. Synchronoss Technologies, Inc. has a one year low of $3.98 and a one year high of $11.41.

Analysts Set New Price Targets

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

Synchronoss Technologies Profile

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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