Elk Creek Partners buys $56,421,730 stake in Synchronoss Technologies (SNCR)

Synchronoss Technologies (SNCR) : Elk Creek Partners scooped up 39,395 additional shares in Synchronoss Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,368,795 shares of Synchronoss Technologies which is valued at $56,421,730.Synchronoss Technologies makes up approximately 3.64% of Elk Creek Partners’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.Oppenheimer Co Inc boosted its stake in SNCR in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 11,275 shares of Synchronoss Technologies which is valued at $465,996. Synchronoss Technologies makes up approx 0.01% of Oppenheimer Co Inc’s portfolio. Vigilant Capital Management added SNCR to its portfolio by purchasing 155 company shares during the most recent quarter which is valued at $5,568.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 -0.03 points or -0.07% at $41.03 with 1,13,828 shares getting traded on Monday. Post opening the session at $41.27, the shares hit an intraday low of $40.96 and an intraday high of $41.42 and the price fluctuated in this range throughout the day.Shares ended Monday 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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