Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares fell 5.4% on Thursday . The stock traded as low as $6.77 and last traded at $6.78. 1,203,869 shares were traded during trading, an increase of 44% from the average session volume of 835,410 shares. The stock had previously closed at $7.17.

Several brokerages have recently weighed in on SNCR. Deutsche Bank reissued a “hold” rating and set a $8.00 price target (down previously from $18.00) on shares of Synchronoss Technologies in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. BidaskClub cut shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th. Finally, Credit Suisse Group reissued an “underperform” rating and set a $8.00 price target (down previously from $13.00) on shares of Synchronoss Technologies in a research report on Thursday, December 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.57.

The firm has a market cap of $333.23, a price-to-earnings ratio of -5.50 and a beta of 1.33.

A number of institutional investors and hedge funds have recently modified their holdings of SNCR. Swiss National Bank raised its holdings in Synchronoss Technologies by 9.0% in the 2nd quarter. Swiss National Bank now owns 72,800 shares of the software maker’s stock valued at $1,198,000 after buying an additional 6,000 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Synchronoss Technologies by 3.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 115,573 shares of the software maker’s stock valued at $1,901,000 after buying an additional 3,858 shares during the period. Ameriprise Financial Inc. raised its holdings in Synchronoss Technologies by 10.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 347,734 shares of the software maker’s stock valued at $5,720,000 after buying an additional 32,038 shares during the period. Parametric Portfolio Associates LLC raised its holdings in Synchronoss Technologies by 100.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,549 shares of the software maker’s stock valued at $1,457,000 after buying an additional 44,352 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Synchronoss Technologies by 29.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,569 shares of the software maker’s stock valued at $38,782,000 after buying an additional 540,181 shares during the period. Hedge funds and other institutional investors own 68.20% of the company’s stock.

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Synchronoss Technologies Company 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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