The stock of Synchronoss Technologies, Inc. (NASDAQ:SNCR) is a huge mover today! About 1.47M shares traded hands or 339.96% up from the average. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 19.23% since April 5, 2016 and is uptrending. It has outperformed by 17.28% the S&P500.
The move comes after 8 months positive chart setup for the $2.10 billion company. It was reported on Nov, 8 by Barchart.com. We have $55.35 PT which if reached, will make NASDAQ:SNCR worth $525.00 million more.
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Ratings Coverage
Out of 5 analysts covering Synchronoss Technologies Inc. (NASDAQ:SNCR), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Synchronoss Technologies Inc. has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, August 10 by Stephens. The rating was downgraded by Stifel Nicolaus to “Hold” on Thursday, February 4. The company was upgraded on Thursday, October 29 by Raymond James. Drexel Hamilton initiated the shares of SNCR in a report on Wednesday, June 1 with “Buy” rating.
According to Zacks Investment Research, “SYNCHRONOSS TECHNOLOGIES is the premier provider of on-demand transaction management software to Tier One communications service providers. Synchronoss enables service providers to drive growth in new and existing markets while delivering an improved customer experience at lower costs. The company’s flagship ActivationNow and ConvergenceNow software platforms automate, synchronize and simplify electronic service creation and management of advanced wireline, wireless and IP services across existing networks.”
Insitutional Activity: The institutional sentiment increased to 1.93 in 2016 Q2. Its up 0.99, from 0.94 in 2016Q1. The ratio improved, as 8 funds sold all Synchronoss Technologies, Inc. shares owned while 51 reduced positions. 35 funds bought stakes while 79 increased positions. They now own 36.19 million shares or 1.51% more from 35.65 million shares in 2016Q1.
The Quebec – Canada-based Public Sector Pension Investment Board has invested 0.01% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Jane Street Group Limited Liability Company accumulated 12,220 shares or 0% of the stock. Monetary Mgmt Grp holds 0.01% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 350 shares. New York State Teachers Retirement, a New York-based fund reported 54,875 shares. Moreover, Palisade Cap Management Ltd Liability Corporation Nj has 0.01% invested in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 11,000 shares. Huntington National Bank holds 34 shares or 0% of its portfolio. Deutsche State Bank Ag last reported 260,464 shares in the company. Glenmede Trust Communication Na has 0% invested in the company for 10,265 shares. Vigilant Mgmt Llc reported 155 shares or 0% of all its holdings. California Employees Retirement Systems has 60,000 shares for 0% of their US portfolio. Northern Trust Corporation has invested 0.01% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR). The Massachusetts-based Loomis Sayles & Communication Lp has invested 0.04% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Moreover, Parametric Assocs Lc has 0% invested in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 41,783 shares. Asset Management holds 5,277 shares or 0% of its portfolio. Putnam Investments Lc has invested 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR).
Insider Transactions: Since May 13, 2016, the stock had 0 insider purchases, and 15 selling transactions for $6.48 million net activity. Waldis Stephen G had sold 13,000 shares worth $531,050 on Wednesday, October 5. Another trade for 83 shares valued at $3,384 was sold by Rosenberger Karen. The insider McCormick James M sold 27,500 shares worth $1.10M. 5,500 shares with value of $216,590 were sold by Moore Donnie on Wednesday, October 12. $18,922 worth of Synchronoss Technologies, Inc. (NASDAQ:SNCR) was sold by Schuette David on Tuesday, September 6. HOFFMAN CHARLES E also sold $1.93 million worth of Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares.
More notable recent Synchronoss Technologies, Inc. (NASDAQ:SNCR) news were published by: Businesswire.com which released: “Synchronoss Technologies, Inc. Announces Strong Third Quarter Results” on November 07, 2016, also Fool.com with their article: “Synchronoss Technologies, Inc. Earnings: A Classic “Beat and Raise” Report” published on August 08, 2016, Fool.com published: “Why Shares of Synchronoss Technologies Inc. Slumped Again Today” on February 04, 2016. More interesting news about Synchronoss Technologies, Inc. (NASDAQ:SNCR) were released by: Businesswire.com and their article: “Synchronoss Technologies to Acquire Openwave Messaging” published on March 02, 2016 as well as Finance.Yahoo.com‘s news article titled: “Synchronoss Technologies, Inc. Announces Date of Third Quarter 2016 Financial …” with publication date: October 12, 2016.
SNCR Company Profile
Synchronoss Technologies, Inc. (Synchronoss), incorporated on September 19, 2000, offers cloud solutions and software activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Firm operates in providing cloud solutions and software activation for connected devices segment. The Company’s software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks. The Company’s solutions include activation and provisioning software for devices and services, cloud sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, identity/access management and secure mobility management that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs) and OEMs with embedded connectivity (smartphones, laptops, tablets and mobile Internet devices (MIDs), such as automobiles, wearables for personal health and wellness, and connected homes), multi-channel retailers, medium and large enterprises and their consumers, as well as other clients for secure and broadband networks, and connected devices. The Firm operates in and markets its solutions and services directly through its sales organizations in North America, Europe and Asia-Pacific.
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