Matarin Capital Management adds Synchronoss Technologies (SNCR) to its portfolio

Synchronoss Technologies (SNCR) : Matarin Capital Management added new position in Synchronoss Technologies during the most recent quarter end. The investment management firm now holds 200,288 shares of Synchronoss Technologies which is valued at $8,255,871 , the company said in a statement filed on Aug 10, 2016 with the SEC.Synchronoss Technologies makes up approximately 1.06% of Matarin Capital Management’s portfolio.

Other Hedge Funds, Including , Mycio Wealth Partners added SNCR to its portfolio by purchasing 85 company shares during the most recent quarter which is valued at $3,504.Penbrook Management reduced its stake in SNCR by selling 1,000 shares or 3.5% in the most recent quarter. The Hedge Fund company now holds 27,580 shares of SNCR which is valued at $1,144,018. Synchronoss Technologies makes up approx 1.15% of Penbrook Management’s portfolio.Simplex Trading reduced its stake in SNCR by selling 3,081 shares or 72.36% in the most recent quarter. The Hedge Fund company now holds 1,177 shares of SNCR which is valued at $42,278. Synchronoss Technologies makes up approx 0.01% of Simplex Trading’s portfolio.

Synchronoss Technologies closed down -0.1 points or -0.24% at $40.74 with 1,73,427 shares getting traded on Friday. Post opening the session at $40.73, the shares hit an intraday low of $40.42 and an intraday high of $40.86 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Synchronoss Technologies reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.53. The company had revenue of $161.49 million for the quarter, compared to analysts expectations of $157.01 million. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Synchronoss Technologies. Synchronoss Technologies was Initiated by Drexel Hamilton to “Buy” on Jun 1, 2016.

Synchronoss Technologies Inc. (Synchronoss) is a mobile innovation company that provides software-based cloud and activation solutions for connected devices to enterprise customers. The Company’s solutions include intelligent connectivity management and content synchronization backup and sharing service procurement provisioning activation and support that enable communications service providers (CSPs) cable operators/multi-services operators (MSOs) original equipment manufacturers (OEMs) with embedded connectivity multi-channel retailers and other customers. This includes automating subscriber activation order management upgrades service provisioning and connectivity and content management from any sales channel to any communication service (wireless or wireline) across any connected device type and managing the content transfer synchronization and share.

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