Zacks Investment Research cut shares of Upland Software, Inc. (NASDAQ:UPLD) from a buy rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Upland Software Inc. is a provider of cloud-based Enterprise Work Management software that helps organizations to plan, manage and execute projects and work. It provides services to teams in Information Technology (IT), marketing, finance, professional services and process excellences. The Company’s services include Professional Services, Education and Training and Global Support. Upland Software, Inc. is headquartered in Austin, Texas. “
A number of other equities analysts also recently weighed in on UPLD. Needham & Company LLC restated a buy rating and issued a $18.00 target price on shares of Upland Software in a research note on Monday, April 3rd. Craig Hallum assumed coverage on Upland Software in a research note on Wednesday, April 19th. They issued a buy rating on the stock. William Blair restated an outperform rating on shares of Upland Software in a research note on Tuesday, April 25th. TheStreet downgraded Upland Software from a c- rating to a d rating in a research note on Wednesday, May 17th. Finally, SunTrust Banks, Inc. assumed coverage on Upland Software in a research note on Monday, June 26th. They issued a buy rating and a $27.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $24.40.
Upland Software (UPLD) traded down 0.52% during mid-day trading on Thursday, reaching $24.72. The company’s stock had a trading volume of 116,393 shares. The firm has a 50 day moving average price of $22.97 and a 200 day moving average price of $17.59. Upland Software has a 52-week low of $7.48 and a 52-week high of $25.56. The company’s market cap is $455.76 million.
Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Thursday, May 11th. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $20.70 million during the quarter, compared to the consensus estimate of $20.55 million. Upland Software had a negative return on equity of 23.17% and a negative net margin of 17.39%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that Upland Software will post $0.82 earnings per share for the current year.
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In other news, major shareholder Systems Corp Wave sold 561,712 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $22.68, for a total value of $12,739,628.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 30.20% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. TFS Capital LLC acquired a new position in shares of Upland Software during the first quarter worth $222,000. Bank of America Corp DE bought a new stake in Upland Software during the first quarter worth approximately $362,000. Goldman Sachs Group Inc. bought a new stake in Upland Software during the first quarter worth approximately $441,000. EAM Investors LLC bought a new stake in Upland Software during the first quarter worth approximately $702,000. Finally, Driehaus Capital Management LLC bought a new stake in Upland Software during the first quarter worth approximately $1,227,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.
About Upland Software
Upland Software Inc is a provider of cloud-based enterprise work management software. The Company provides a family of cloud-based enterprise work management software applications for the information technology, process excellence, finance, professional services and marketing functions within organizations.
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