Upland Software Inc (NASDAQ:UPLD) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 3,740,000 shares, a decline of 5.1% from the September 30th total of 3,940,000 shares. Currently, 18.0% of the company’s stock are short sold. Based on an average trading volume of 372,000 shares, the days-to-cover ratio is currently 10.1 days.
Several brokerages recently issued reports on UPLD. Craig Hallum raised their price target on shares of Upland Software from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Jefferies Financial Group dropped their target price on shares of Upland Software from $61.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. They noted that the move was a valuation call. Raymond James upped their price objective on 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 research note on Friday, November 15th. Finally, Credit Suisse Group started coverage on shares of Upland Software in a research report on Wednesday, November 6th. They set an “outperform” rating and a $48.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $50.67.
In other Upland Software news, Director Stephen E. Courter sold 1,450 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 11,651 shares of the company’s stock, valued at $401,027.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cortina Asset Management LLC bought a new position in shares of Upland Software in the 2nd quarter worth $5,921,000. Falcon Point Capital LLC grew its position in Upland Software by 1.3% during the second 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 last quarter. Creative Planning raised its stake in shares of Upland Software by 10.0% during the second quarter. Creative Planning now owns 12,100 shares of the software maker’s stock worth $551,000 after acquiring an additional 1,100 shares in the last quarter. Ashburton Jersey Ltd purchased a new position in shares of Upland Software during the second quarter worth approximately $57,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Upland Software by 53.2% in 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 purchasing an additional 3,350 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.
NASDAQ UPLD traded down $0.71 during trading on Tuesday, hitting $36.22. 246,450 shares of the company’s stock traded hands, compared to its average volume of 354,104. The business has a 50 day moving average of $37.46 and a 200-day moving average of $41.43. The stock has a market capitalization of $931.72 million, a price-to-earnings ratio of 30.69, a PEG ratio of 1.01 and a beta of 0.61. Upland Software has a 12-month low of $25.12 and a 12-month high of $54.87. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.56 and a current ratio of 1.56.
Upland Software (NASDAQ:UPLD) last announced its quarterly earnings results on Thursday, November 7th. The software maker reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.20. Upland Software had a positive return on equity of 21.45% and a negative net margin of 11.31%. The company had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $55.33 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. On average, analysts expect that Upland Software will post 1.44 EPS for the current year.
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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