LSV Asset Management Acquires Shares of 41,700 Synchronoss Technologies, Inc. (NASDAQ:SNCR)

LSV Asset Management acquired a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 41,700 shares of the software maker's stock, valued at approximately $400,000. LSV Asset Management owned about 0.38% of Synchronoss Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its position in 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. American Century Companies Inc. purchased a new stake in Synchronoss Technologies in the fourth quarter valued at approximately $103,000. XTX Topco Ltd acquired a new stake in shares of Synchronoss Technologies during the 3rd quarter worth $237,000. Integrated Quantitative Investments LLC acquired a new stake in Synchronoss Technologies during the fourth quarter worth about $158,000. Finally, Trexquant Investment LP acquired a new position in Synchronoss Technologies during the fourth quarter valued at approximately $172,000. 51.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Synchronoss Technologies from a "hold" rating to a "buy" rating in a research note on Friday, March 14th.

Synchronoss Technologies Stock Performance

SNCR traded up $0.08 during midday trading on Monday, reaching $9.84. The company's stock had a trading volume of 26,072 shares, compared to its average volume of 75,964. The company has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $10.17. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75. The stock has a market cap of $113.07 million, a P/E ratio of -2.55 and a beta of 1.78. Synchronoss Technologies, Inc. has a twelve month low of $6.02 and a twelve month high of $15.46.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating 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 business had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.76 million. Research analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Synchronoss Technologies

In other news, CEO Jeffrey George Miller sold 17,389 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.34, for a total value of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares of the company's stock, valued at $3,476,638.88. The trade was a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.90% of the company's stock.

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.