Eqis Capital Management buys $1,167,370 stake in Synchronoss Technologies (SNCR)

Synchronoss Technologies (SNCR) : Eqis Capital Management scooped up 4,577 additional shares in Synchronoss Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 28,605 shares of Synchronoss Technologies which is valued at $1,167,370.Synchronoss Technologies makes up approximately 0.07% of Eqis Capital Management’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in SNCR in the latest quarter, The investment management firm added 3,845 additional shares and now holds a total of 13,493 shares of Synchronoss Technologies which is valued at $550,649. Synchronoss Technologies makes up approx 0.12% of Beacon Financial Group’s portfolio.

Synchronoss Technologies opened for trading at $40.38 and hit $41.75 on the upside on Tuesday, eventually ending the session at $40.48, with a gain of 0.15% or 0.06 points. The heightened volatility saw the trading volume jump to 4,43,551 shares. Company has a market cap of $1,827 M.

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.

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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