Hillsdale Investment Management Inc. Sells 4,000 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Hillsdale Investment Management Inc. lowered its stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 20.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,500 shares of the software maker’s stock after selling 4,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Synchronoss Technologies were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SNCR. State Street Corp increased its holdings in Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock worth $522,000 after acquiring an additional 4,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Synchronoss Technologies by 4.1% in the third quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock worth $1,557,000 after purchasing an additional 4,159 shares in the last quarter. Barclays PLC raised its position in shares of Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after purchasing an additional 4,919 shares during the period. American Century Companies Inc. purchased a new position in shares of Synchronoss Technologies during the 4th quarter valued at $103,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Synchronoss Technologies by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker’s stock worth $5,468,000 after buying an additional 11,023 shares during the period. 51.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 17,389 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total transaction of $179,802.26. Following the completion of the transaction, the chief executive officer now owns 336,232 shares in the company, valued at $3,476,638.88. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.90% of the stock is currently owned by insiders.

Synchronoss Technologies Stock Down 4.0 %

Shares of SNCR stock opened at $12.02 on Tuesday. The company’s fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $10.57. Synchronoss Technologies, Inc. has a 52 week low of $6.02 and a 52 week high of $15.46. The stock has a market cap of $138.12 million, a P/E ratio of -3.10 and a beta of 2.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75.

Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.75. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. The company had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.76 million. Analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on SNCR shares. StockNews.com raised Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Roth Mkm raised Synchronoss Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $13.00 in a report on Monday, November 25th. Finally, Roth Capital raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th.

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.