California Public Employees Retirement System Buys 928,390 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

California Public Employees Retirement System lifted its stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 454.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,132,471 shares of the software maker’s stock after buying an additional 928,390 shares during the quarter. California Public Employees Retirement System owned about 2.51% of Synchronoss Technologies worth $5,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Systematic Financial Management LP bought a new position in shares of Synchronoss Technologies in the third quarter worth about $475,000. State Street Corp raised its stake in Synchronoss Technologies by 25.6% during the 3rd quarter. State Street Corp now owns 744,012 shares of the software maker’s stock valued at $4,018,000 after purchasing an additional 151,679 shares during the period. Millennium Management LLC raised its stake in Synchronoss Technologies by 60.3% during the 3rd quarter. Millennium Management LLC now owns 32,052 shares of the software maker’s stock valued at $173,000 after purchasing an additional 12,052 shares during the period. Public Employees Retirement System of Ohio raised its stake in Synchronoss Technologies by 21.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,020 shares of the software maker’s stock valued at $222,000 after purchasing an additional 7,300 shares during the period. Finally, Mackay Shields LLC raised its stake in Synchronoss Technologies by 30.0% during the 3rd quarter. Mackay Shields LLC now owns 20,800 shares of the software maker’s stock valued at $112,000 after purchasing an additional 4,800 shares during the period. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on SNCR shares. ValuEngine raised Synchronoss Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Zacks Investment Research raised Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of Synchronoss Technologies in a research note on Thursday, January 9th.

Shares of SNCR opened at $5.12 on Friday. The business’s 50 day moving average is $5.48 and its 200 day moving average is $5.86. The company has a market capitalization of $230.73 million, a PE ratio of -0.92 and a beta of 0.47. Synchronoss Technologies, Inc. has a 12-month low of $3.72 and a 12-month high of $9.05. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.74.

Synchronoss Technologies Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

Read More: What is a support level?

Institutional Ownership by Quarter for Synchronoss Technologies (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.