Synchronoss Technologies, Inc. (SNCR) Stake Boosted by Wealthsource Partners LLC

Wealthsource Partners LLC lifted its position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 241.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,845 shares of the software maker’s stock after purchasing an additional 22,520 shares during the quarter. Wealthsource Partners LLC owned 0.07% of Synchronoss Technologies worth $524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in Synchronoss Technologies by 80.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,511 shares of the software maker’s stock valued at $140,000 after acquiring an additional 3,791 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Synchronoss Technologies by 4.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the software maker’s stock valued at $166,000 after acquiring an additional 470 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in Synchronoss Technologies in the 2nd quarter valued at $166,000. First Trust Advisors LP bought a new stake in Synchronoss Technologies in the 1st quarter valued at $212,000. Finally, BNP Paribas Arbitrage SA lifted its position in Synchronoss Technologies by 13.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,792 shares of the software maker’s stock valued at $215,000 after acquiring an additional 1,072 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on SNCR shares. Deutsche Bank AG reaffirmed a “hold” rating and issued a $18.00 price objective (up from $10.00) on shares of Synchronoss Technologies in a research report on Monday, October 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 price objective (down from $16.00) on shares of Synchronoss Technologies in a research report on Wednesday, September 20th. Citigroup Inc. boosted their price objective on shares of Synchronoss Technologies to $10.00 and gave the company a “hold” rating in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub raised shares of Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.71.

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Shares of Synchronoss Technologies, Inc. (SNCR) traded down 1.46% during midday trading on Friday, reaching $14.15. 1,056,036 shares of the company’s stock traded hands. Synchronoss Technologies, Inc. has a 12 month low of $8.71 and a 12 month high of $49.94. The stock has a market cap of $622.36 million, a P/E ratio of 31.44 and a beta of 1.61. The stock has a 50 day moving average of $13.63 and

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in Synchronoss Technologies by 80.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,511 shares of the software maker’s stock valued at $140,000 after acquiring an additional 3,791 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Synchronoss Technologies by 4.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,100 shares of the software maker’s stock valued at $166,000 after acquiring an additional 470 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in Synchronoss Technologies in the 2nd quarter valued at $166,000. First Trust Advisors LP bought a new stake in Synchronoss Technologies in the 1st quarter valued at $212,000. Finally, BNP Paribas Arbitrage SA lifted its position in Synchronoss Technologies by 13.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,792 shares of the software maker’s stock valued at $215,000 after acquiring an additional 1,072 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on SNCR shares. Deutsche Bank AG reaffirmed a “hold” rating and issued a $18.00 price objective (up from $10.00) on shares of Synchronoss Technologies in a research report on Monday, October 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.00 price objective (down from $16.00) on shares of Synchronoss Technologies in a research report on Wednesday, September 20th. Citigroup Inc. boosted their price objective on shares of Synchronoss Technologies to $10.00 and gave the company a “hold” rating in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub raised shares of Synchronoss Technologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.71.

TRADEMARK VIOLATION NOTICE: This piece was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/14/synchronoss-technologies-inc-sncr-stake-boosted-by-wealthsource-partners-llc.html.

Shares of Synchronoss Technologies, Inc. (SNCR) traded down 1.46% during midday trading on Friday, reaching $14.15. 1,056,036 shares of the company’s stock traded hands. Synchronoss Technologies, Inc. has a 12 month low of $8.71 and a 12 month high of $49.94. The stock has a market cap of $622.36 million, a P/E ratio of 31.44 and a beta of 1.61. The stock has a 50 day moving average of $13.63 and a 200-day moving average of $16.04.

About Synchronoss Technologies

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

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Institutional Ownership by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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