Envestnet Asset Management Inc. increased its stake in Upland Software Inc (NASDAQ:UPLD) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,732 shares of the software maker’s stock after acquiring an additional 1,028 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Upland Software worth $792,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Cortina Asset Management LLC bought a new position in shares of Upland Software in the second quarter valued at approximately $5,921,000. Falcon Point Capital LLC raised its stake in Upland Software by 1.3% in the 2nd quarter. Falcon Point Capital LLC now owns 21,536 shares of the software maker’s stock valued at $981,000 after acquiring an additional 268 shares during the period. Creative Planning lifted its holdings in Upland Software by 10.0% during the second quarter. Creative Planning now owns 12,100 shares of the software maker’s stock valued at $551,000 after purchasing an additional 1,100 shares during the last quarter. Ashburton Jersey Ltd purchased a new position in shares of Upland Software in the second quarter worth about $57,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Upland Software by 53.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,650 shares of the software maker’s stock valued at $439,000 after buying an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.
Upland Software stock traded up $0.40 during trading hours on Tuesday, hitting $36.64. The stock had a trading volume of 173,036 shares, compared to its average volume of 357,511. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $977.86 million, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61. The stock’s 50-day moving average price is $37.87 and its 200-day moving average price is $41.79. Upland Software Inc has a 12-month low of $25.12 and a 12-month high of $54.87.
Upland Software (NASDAQ:UPLD) last posted its earnings results on Thursday, November 7th. The software maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.20. Upland Software had a negative net margin of 11.31% and a positive return on equity of 21.45%. The business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $55.33 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 48.5% on a year-over-year basis. On average, research analysts expect that Upland Software Inc will post 1.44 EPS for the current fiscal year.
Several research analysts have commented on the stock. BidaskClub raised shares of Upland Software from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Raymond James raised their target price on shares of Upland Software from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Zacks Investment Research cut Upland Software from a “buy” rating to a “hold” rating in a report on Friday, November 15th. ValuEngine lowered Upland Software from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. Finally, Craig Hallum upped their price target on shares of Upland Software from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $50.67.
In related news, Director Stephen E. Courter sold 1,450 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.42, for a total value of $49,909.00. Following the completion of the sale, the director now directly owns 11,651 shares of the company’s stock, valued at approximately $401,027.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.60% of the stock is owned by insiders.
Upland Software Company Profile
Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.
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