Hillsdale Investment Management Inc. Lowers Stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Hillsdale Investment Management Inc. lessened its holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,500 shares of the software maker’s stock after selling 4,000 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.14% of Synchronoss Technologies worth $149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SNCR. JPMorgan Chase & Co. grew its stake in shares of Synchronoss Technologies by 54,341.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker’s stock worth $875,000 after buying an additional 58,689 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Synchronoss Technologies in the third quarter worth $237,000. GSA Capital Partners LLP bought a new position in shares of Synchronoss Technologies during the third quarter valued at $165,000. Allspring Global Investments Holdings LLC raised its position in shares of 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 purchasing an additional 11,023 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Synchronoss Technologies in the 4th quarter worth about $103,000. Institutional investors own 51.71% of the company’s stock.

Synchronoss Technologies Price Performance

Shares of NASDAQ:SNCR opened at $12.02 on Tuesday. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $138.12 million, a price-to-earnings ratio of -3.10 and a beta of 2.05. The business has a 50-day simple moving average of $9.89 and a two-hundred day simple moving average of $10.57. Synchronoss Technologies, Inc. has a fifty-two week low of $6.02 and a fifty-two week high of $15.46.

Synchronoss Technologies (NASDAQ:SNCR) last posted its earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.75. The business 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%. On average, analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity at Synchronoss Technologies

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total value of $179,802.26. Following the transaction, the chief executive officer now owns 336,232 shares of the company’s stock, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.