Mackenzie Financial Corp Makes New Investment in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Mackenzie Financial Corp bought a new position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the 4th quarter, HoldingsChannel reports. The firm bought 30,742 shares of the software maker’s stock, valued at approximately $295,000.

A number of other large investors have also modified their holdings of SNCR. Allspring Global Investments Holdings LLC grew its position in Synchronoss Technologies by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker’s stock worth $5,468,000 after purchasing an additional 11,023 shares during the period. JPMorgan Chase & Co. raised its position in Synchronoss Technologies by 22.6% during the fourth quarter. JPMorgan Chase & Co. now owns 72,107 shares of the software maker’s stock worth $692,000 after acquiring an additional 13,310 shares during the period. Geode Capital Management LLC lifted its stake in Synchronoss Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock valued at $1,022,000 after buying an additional 1,851 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Synchronoss Technologies in the fourth quarter worth approximately $103,000. Finally, LSV Asset Management purchased a new stake in shares of Synchronoss Technologies during the fourth quarter worth $400,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Insider Transactions at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 6,979 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $10.50, for a total transaction of $73,279.50. Following the transaction, the chief executive officer now owns 451,853 shares of the company’s stock, valued at $4,744,456.50. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laurie Harris sold 4,800 shares of Synchronoss Technologies stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $7.00, for a total transaction of $33,600.00. Following the transaction, the director now owns 47,632 shares in the company, valued at $333,424. The trade was a 9.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,961 shares of company stock worth $279,021. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

Synchronoss Technologies Price Performance

Shares of NASDAQ SNCR opened at $6.92 on Thursday. The stock’s 50-day moving average is $8.97 and its two-hundred day moving average is $9.50. The company has a market cap of $79.57 million, a price-to-earnings ratio of -1.78 and a beta of 1.75. Synchronoss Technologies, Inc. has a 1-year low of $6.31 and a 1-year high of $15.46. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88.

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

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.