Lapides Asset Management LLC purchased a new position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 107,400 shares of the software maker’s stock, valued at approximately $850,000. Lapides Asset Management LLC owned approximately 0.25% of Synchronoss Technologies at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Optimum Investment Advisors acquired a new position in shares of Synchronoss Technologies in the 1st quarter worth approximately $30,000. Jane Street Group LLC acquired a new position in shares of Synchronoss Technologies in the 4th quarter worth approximately $73,000. Deutsche Bank AG acquired a new position in shares of Synchronoss Technologies in the 4th quarter worth approximately $95,000. Alambic Investment Management L.P. acquired a new position in shares of Synchronoss Technologies in the 1st quarter worth approximately $98,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Synchronoss Technologies in the fourth quarter worth approximately $109,000. Institutional investors own 41.22% of the company’s stock.
In related news, CFO David D. Clark sold 20,878 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $7.91, for a total transaction of $165,144.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ronald Prague sold 8,789 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $7.85, for a total transaction of $68,993.65. The disclosure for this sale can be found here. Insiders own 30.50% of the company’s stock.
Synchronoss Technologies stock opened at $8.87 on Friday. The stock has a 50 day moving average price of $7.99. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 0.43. Synchronoss Technologies, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.05.
Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Monday, August 5th. The software maker reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.08. The business had revenue of $77.80 million for the quarter, compared to the consensus estimate of $80.19 million. Synchronoss Technologies had a negative net margin of 55.89% and a negative return on equity of 81.70%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.48) earnings per share. On average, equities research analysts predict that Synchronoss Technologies, Inc. will post -1.72 earnings per share for the current fiscal year.
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.
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