Kennedy Capital Management Inc. reduced its position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 41.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,289 shares of the software maker’s stock after selling 261,118 shares during the period. Kennedy Capital Management Inc. owned 0.77% of Synchronoss Technologies worth $3,284,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SNCR. Parametric Portfolio Associates LLC boosted its stake in shares of Synchronoss Technologies by 100.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,549 shares of the software maker’s stock worth $1,457,000 after purchasing an additional 44,352 shares during the last quarter. State Street Corp boosted its stake in shares of Synchronoss Technologies by 8.1% during the 2nd quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock worth $17,346,000 after purchasing an additional 78,729 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Synchronoss Technologies by 86.8% during the 3rd quarter. Nationwide Fund Advisors now owns 53,365 shares of the software maker’s stock worth $498,000 after purchasing an additional 24,800 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Synchronoss Technologies during the 3rd quarter worth about $113,000. Finally, State of Wisconsin Investment Board boosted its stake in shares of Synchronoss Technologies by 108.5% during the 3rd quarter. State of Wisconsin Investment Board now owns 679,010 shares of the software maker’s stock worth $6,335,000 after purchasing an additional 353,388 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors.
In related news, Chairman Stephen G. Waldis sold 30,316 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $8.78, for a total value of $266,174.48. Following the sale, the chairman now directly owns 542,770 shares of the company’s stock, valued at $4,765,520.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Garcia sold 27,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $8.94, for a total transaction of $242,417.04. Following the completion of the sale, the insider now directly owns 173,980 shares in the company, valued at $1,555,381.20. The disclosure for this sale can be found here. Insiders sold 98,776 shares of company stock worth $876,377 over the last three months. Corporate insiders own 10.50% of the company’s stock.
Several equities research analysts have issued reports on SNCR shares. Zacks Investment Research raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Credit Suisse Group reaffirmed an “underperform” rating and set a $8.00 price target (down from $13.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. BidaskClub cut shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $8.00 price target (down from $18.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.57.
TRADEMARK VIOLATION NOTICE: “Kennedy Capital Management Inc. Has $3.28 Million Holdings in Synchronoss Technologies, Inc. (SNCR)” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/kennedy-capital-management-inc-has-3-28-million-holdings-in-synchronoss-technologies-inc-sncr.html.
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.
Want to see what other hedge funds are holding SNCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchronoss Technologies, Inc. (NASDAQ:SNCR).
Receive News & Ratings for Synchronoss Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies and related companies with MarketBeat.com's FREE daily email newsletter.