Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw a significant growth in short interest in September. As of September 29th, there was short interest totalling 9,613,102 shares, a growth of 86.8% from the September 15th total of 5,145,642 shares. Approximately 26.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,889,099 shares, the short-interest ratio is presently 2.5 days.

A number of large investors have recently modified their holdings of SNCR. First Trust Advisors LP purchased a new position in Synchronoss Technologies in the 1st quarter worth $212,000. US Bancorp DE raised its position in Synchronoss Technologies by 12.0% in the 1st quarter. US Bancorp DE now owns 12,920 shares of the software maker’s stock worth $315,000 after purchasing an additional 1,388 shares during the period. BNP Paribas Arbitrage SA raised 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 worth $215,000 after purchasing an additional 1,072 shares during the period. Comerica Bank raised its position in Synchronoss Technologies by 6.8% in the 1st quarter. Comerica Bank now owns 100,770 shares of the software maker’s stock worth $1,339,000 after purchasing an additional 6,455 shares during the period. Finally, Texas Permanent School Fund raised its position in Synchronoss Technologies by 0.8% in the 1st quarter. Texas Permanent School Fund now owns 30,973 shares of the software maker’s stock worth $756,000 after purchasing an additional 236 shares during the period. Institutional investors own 74.06% of the company’s stock.

SNCR has been the subject of several research analyst reports. Drexel Hamilton downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 price target on shares of Synchronoss Technologies in a report on Friday, June 23rd. Zacks Investment Research upgraded shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 25th. BidaskClub downgraded shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. downgraded shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Synchronoss Technologies presently has a consensus rating of “Hold” and a consensus target price of $18.71.

Shares of Synchronoss Technologies (NASDAQ:SNCR) opened at 14.36 on Thursday. Synchronoss Technologies has a 12-month low of $8.71 and a 12-month high of $49.94. The firm has a market capitalization of $631.60 million, a P/E ratio of 31.91 and a beta of 1.61. The company has a 50-day moving average price of $13.77 and a 200-day moving average price of $16.12.

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Synchronoss Technologies Company Profile

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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