Municipal Employees Retirement System of Michigan raised its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,630 shares of the software maker’s stock after buying an additional 110 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Synchronoss Technologies were worth $235,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Synchronoss Technologies by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 349,704 shares of the software maker’s stock worth $13,394,000 after buying an additional 1,250 shares during the period. UBS Asset Management Americas Inc. increased its position in Synchronoss Technologies by 17.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 455,387 shares of the software maker’s stock worth $17,441,000 after buying an additional 66,692 shares during the period. Norges Bank purchased a new position in Synchronoss Technologies during the fourth quarter worth $11,971,000. Thrivent Financial for Lutherans increased its position in Synchronoss Technologies by 6.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,830 shares of the software maker’s stock worth $874,000 after buying an additional 1,450 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in Synchronoss Technologies by 13.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 12,900 shares of the software maker’s stock worth $494,000 after buying an additional 1,500 shares during the period. 89.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Synchronoss Technologies, Inc. (SNCR) traded down 0.30% during midday trading on Friday, hitting $16.59. The stock had a trading volume of 326,843 shares. The firm has a market cap of $729.68 million, a P/E ratio of 36.87 and a beta of 1.74. Synchronoss Technologies, Inc. has a 52 week low of $10.11 and a 52 week high of $49.94. The company’s 50 day moving average is $15.13 and its 200 day moving average is $22.25.

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A number of equities analysts have weighed in on the company. Credit Suisse Group downgraded Synchronoss Technologies from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $45.00 to $13.00 in a research report on Thursday, April 27th. J P Morgan Chase & Co cut Synchronoss Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $27.00 in a research note on Thursday, April 27th. Wells Fargo & Company cut Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. UBS AG cut Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, April 27th. Finally, Zacks Investment Research cut Synchronoss Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.71.

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.

Institutional Ownership by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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