TIAA CREF Investment Management LLC Has $2.73 Million Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

TIAA CREF Investment Management LLC lowered its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 5.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 111,715 shares of the software maker’s stock after selling 7,015 shares during the period. TIAA CREF Investment Management LLC owned 0.25% of Synchronoss Technologies worth $2,726,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Smith Graham & Co. Investment Advisors LP raised its position in Synchronoss Technologies by 51.4% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 445,098 shares of the software maker’s stock worth $10,860,000 after buying an additional 151,145 shares during the period. Louisiana State Employees Retirement System raised its position in Synchronoss Technologies by 3.0% in the first quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the software maker’s stock worth $425,000 after buying an additional 500 shares during the period. Cornerstone Financial Partners LLC raised its position in Synchronoss Technologies by 34.5% in the first quarter. Cornerstone Financial Partners LLC now owns 27,357 shares of the software maker’s stock worth $665,000 after buying an additional 7,021 shares during the period. Atria Investments LLC raised its position in Synchronoss Technologies by 39.7% in the first quarter. Atria Investments LLC now owns 9,398 shares of the software maker’s stock worth $229,000 after buying an additional 2,672 shares during the period. Finally, AMI Asset Management Corp raised its position in Synchronoss Technologies by 9.3% in the first quarter. AMI Asset Management Corp now owns 417,356 shares of the software maker’s stock worth $10,183,000 after buying an additional 35,526 shares during the period. Hedge funds and other institutional investors own 88.81% of the company’s stock.

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) opened at 16.74 on Friday. The stock’s 50 day moving average is $16.44 and its 200-day moving average is $20.54. The stock has a market capitalization of $736.28 million, a price-to-earnings ratio of 37.20 and a beta of 1.74. Synchronoss Technologies, Inc. has a 52 week low of $10.11 and a 52 week high of $49.94.

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SNCR has been the subject of a number of recent research reports. Wells Fargo & Company lowered shares of Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. J P Morgan Chase & Co lowered shares of Synchronoss Technologies from an “overweight” rating to a “neutral” rating and cut their target price for the company from $65.00 to $27.00 in a report on Thursday, April 27th. Credit Suisse Group lowered shares of Synchronoss Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $45.00 to $13.00 in a report on Thursday, April 27th. UBS AG lowered shares of Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a report on Thursday, April 27th. Finally, Stifel Nicolaus cut their target price on shares of Synchronoss Technologies from $32.00 to $10.00 and set a “hold” rating for the company in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.00.

About Synchronoss Technologies

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.

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

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