In today’s session Synchronoss Technologies, Inc. (SNCR) registered an unusually high (528) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SNCR increase. With 528 contracts traded and 1234 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SNCR161118C00040000 closed last at: $2.05 or 70.8% up. About 285,903 shares traded hands. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 42.46% since April 7, 2016 and is uptrending. It has outperformed by 37.68% the S&P500.
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. $60 is the highest target while $37 is the lowest. The $50 average target is 8.39% above today’s ($46.13) stock price. Synchronoss Technologies Inc. has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Thursday, February 4 by Stifel Nicolaus. The stock has “Buy” rating given by Drexel Hamilton on Wednesday, June 1. The rating was initiated by Stephens with “Overweight” on Wednesday, August 10. The stock has “Strong Buy” rating given by Raymond James on Thursday, October 29.
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 increased, 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.
Ladenburg Thalmann Fincl owns 3,250 shares or 0% of their US portfolio. Granahan Investment Mgmt Ma has 366,900 shares for 0.43% of their US portfolio. Emerald Mutual Fund Advisers Tru reported 182,178 shares or 0.33% of all its holdings. Loomis Sayles & Limited Partnership has 414,375 shares for 0.04% of their US portfolio. Vigilant Cap Limited Com, a Maine-based fund reported 155 shares. Royal Bancorp Of Canada, a Ontario – Canada-based fund reported 3.62M shares. Employees Retirement System Of Texas holds 0.03% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 70,000 shares. Manufacturers Life Ins Communications The holds 0.01% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 115,836 shares. Matarin Ltd has invested 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR). The New York-based New York State Teachers Retirement Sys has invested 0% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Dreman Value L L C has 331 shares for 0.01% of their US portfolio. Cambridge Trust last reported 15,641 shares in the company. American Intll Grp owns 30,554 shares or 0% of their US portfolio. The New Jersey-based Princeton Alpha Mngmt Ltd Partnership has invested 0.04% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Chatham Cap Grp last reported 0.31% of its portfolio in the stock.
Insider Transactions: Since May 13, 2016, the stock had 0 insider buys, and 14 sales for $4.55 million net activity. HOFFMAN CHARLES E sold $1.93 million worth of stock. Shares for $469,560 were sold by Waldis Stephen G. $18,922 worth of shares were sold by Schuette David on Tuesday, September 6. Rosenberger Karen sold $3,384 worth of Synchronoss Technologies, Inc. (NASDAQ:SNCR) on Monday, August 22. McCormick James M also sold $1.10 million worth of Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares. Moore Donnie had sold 5,500 shares worth $216,590.
Synchronoss Technologies, Inc. offers cloud solutions and software activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The company has a market cap of $2.37 billion. The Firm operates in providing cloud solutions and software activation for connected devices segment. It currently has negative earnings. The Company’s software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.
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.
More notable recent Synchronoss Technologies, Inc. (NASDAQ:SNCR) news were published by: Fool.com which released: “Why Synchronoss Technologies, Inc. Stock Soared Today” on November 08, 2016, also Rttnews.com with their article: “Synchronoss Technologies Inc. (SNCR) Has Surged To A New High After Q3 Report” published on November 08, 2016, Fool.com published: “Synchronoss Technologies, Inc. Earnings: A Classic “Beat and Raise” Report” on August 08, 2016. More interesting news about Synchronoss Technologies, Inc. (NASDAQ:SNCR) were released by: Fool.com and their article: “Why Shares of Synchronoss Technologies Inc. Soared Today” published on May 06, 2016 as well as Seekingalpha.com‘s news article titled: “Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934” with publication date: November 08, 2016.
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