Northern Trust Corp cut its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 584,792 shares of the software maker’s stock after selling 12,210 shares during the period. Northern Trust Corp owned 1.33% of Synchronoss Technologies worth $9,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Synchronoss Technologies by 155,453.2% in the first quarter. BlackRock Inc. now owns 5,134,811 shares of the software maker’s stock worth $125,291,000 after purchasing an additional 5,131,510 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Synchronoss Technologies by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,652,395 shares of the software maker’s stock worth $89,119,000 after purchasing an additional 148,136 shares during the last quarter. Elk Creek Partners LLC increased its position in shares of Synchronoss Technologies by 11.7% in the second quarter. Elk Creek Partners LLC now owns 2,339,095 shares of the software maker’s stock worth $38,478,000 after purchasing an additional 245,056 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Synchronoss Technologies by 48.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,817,388 shares of the software maker’s stock worth $44,345,000 after purchasing an additional 596,051 shares during the last quarter. Finally, State Street Corp increased its position in shares of Synchronoss Technologies by 8.2% in the first quarter. State Street Corp now owns 975,857 shares of the software maker’s stock worth $23,809,000 after purchasing an additional 73,884 shares during the last quarter. Hedge funds and other institutional investors own 71.50% of the company’s stock.

Shares of Synchronoss Technologies, Inc. (SNCR) opened at $10.07 on Wednesday. The firm has a market capitalization of $478.47, a P/E ratio of 6.94 and a beta of 1.62. Synchronoss Technologies, Inc. has a 52 week low of $8.71 and a 52 week high of $49.94.

A number of research analysts have commented on SNCR shares. Zacks Investment Research cut shares of Synchronoss Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Deutsche Bank AG reiterated a “hold” rating and set a $18.00 price target (up from $10.00) on shares of Synchronoss Technologies in a research report on Monday, October 9th. BidaskClub cut shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Raymond James Financial, Inc. cut shares of Synchronoss Technologies from an “outperform” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research report on Tuesday, September 19th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $10.00 price target (down from $16.00) on shares of Synchronoss Technologies in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Synchronoss Technologies has an average rating of “Hold” and a consensus target price of $18.71.

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Synchronoss Technologies Profile

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.

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

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