Allspring Global Investments Holdings LLC Sells 5,905 Shares of Synchronoss Technologies, Inc. $SNCR

Allspring Global Investments Holdings LLC lessened its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 541,199 shares of the software maker’s stock after selling 5,905 shares during the quarter. Allspring Global Investments Holdings LLC owned about 4.71% of Synchronoss Technologies worth $4,032,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNCR. Silverberg Bernstein Capital Management LLC purchased a new stake in shares of Synchronoss Technologies during the 2nd quarter valued at about $72,000. Jane Street Group LLC purchased a new stake in shares of Synchronoss Technologies during the 1st quarter valued at about $260,000. Goldman Sachs Group Inc. boosted its holdings in shares of Synchronoss Technologies by 212.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,600 shares of the software maker’s stock valued at $355,000 after acquiring an additional 22,160 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Synchronoss Technologies by 167.5% during the 1st quarter. Trexquant Investment LP now owns 48,001 shares of the software maker’s stock valued at $523,000 after acquiring an additional 30,056 shares during the last quarter. Finally, Informed Momentum Co LLC purchased a new stake in shares of Synchronoss Technologies during the 1st quarter valued at about $569,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNCR. Wall Street Zen downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Zacks Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Synchronoss Technologies in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Synchronoss Technologies Stock Performance

SNCR opened at $5.13 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 3.67. The company has a market cap of $59.00 million, a price-to-earnings ratio of -2.45 and a beta of 1.55. The company’s 50 day moving average is $5.97 and its 200 day moving average is $7.27. Synchronoss Technologies, Inc. has a 12-month low of $5.06 and a 12-month high of $12.85.

Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results on Monday, August 11th. The software maker reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Synchronoss Technologies had a negative return on equity of 3.77% and a negative net margin of 12.36%.The firm had revenue of $42.49 million for the quarter, compared to the consensus estimate of $42.79 million. Synchronoss Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.