Public Employees Retirement System of Ohio increased its holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,020 shares of the software maker’s stock after purchasing an additional 7,300 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.09% of Synchronoss Technologies worth $222,000 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 the stock. BlackRock Inc. boosted its stake in Synchronoss Technologies by 1,394.4% during the second quarter. BlackRock Inc. now owns 2,048,925 shares of the software maker’s stock worth $16,207,000 after buying an additional 1,911,821 shares during the period. Vanguard Group Inc. boosted its stake in Synchronoss Technologies by 106.8% during the second quarter. Vanguard Group Inc. now owns 1,205,330 shares of the software maker’s stock worth $9,534,000 after buying an additional 622,345 shares during the period. Renaissance Technologies LLC boosted its stake in Synchronoss Technologies by 87.7% during the second quarter. Renaissance Technologies LLC now owns 873,219 shares of the software maker’s stock worth $6,907,000 after buying an additional 407,926 shares during the period. State Street Corp boosted its stake in Synchronoss Technologies by 25.6% during the third quarter. State Street Corp now owns 744,012 shares of the software maker’s stock worth $4,018,000 after buying an additional 151,679 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Synchronoss Technologies during the second quarter worth $1,132,000. Institutional investors own 54.94% of the company’s stock.

SNCR has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Synchronoss Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Synchronoss Technologies in a research note on Tuesday, November 12th. Finally, ValuEngine lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.

In related news, CEO Glenn Lurie bought 10,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $4.15 per share, with a total value of $41,500.00. 30.50% of the stock is currently owned by insiders.

Shares of SNCR opened at $4.20 on Friday. The firm has a market capitalization of $189.27 million, a P/E ratio of -0.86 and a beta of 0.45. 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. The firm has a fifty day moving average price of $4.76 and a 200-day moving average price of $6.55.

Synchronoss Technologies (NASDAQ:SNCR) last issued its earnings results on Monday, November 4th. The software maker reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.22). The company had revenue of $52.21 million for the quarter, compared to analysts’ expectations of $88.50 million. Synchronoss Technologies had a negative net margin of 66.53% and a negative return on equity of 99.39%. The firm’s revenue for the quarter was down 37.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.72) earnings per share. Analysts predict that Synchronoss Technologies, Inc. will post -2.35 earnings per share for the current year.

Synchronoss Technologies Company 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.

Further Reading: Mutual funds are not immune from market timing

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

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