Upland Software, Inc. (NASDAQ:UPLD) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday, July 31st.
Several other brokerages have also recently weighed in on UPLD. Zacks Investment Research cut Upland Software from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. TheStreet raised Upland Software from a “d” rating to a “c-” rating in a research note on Tuesday, July 18th. Needham & Company LLC reissued a “buy” rating and issued a $29.00 target price (up from $25.00) on shares of Upland Software in a report on Friday, July 14th. Roth Capital downgraded Upland Software from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Friday, July 14th. Finally, SunTrust Banks, Inc. began coverage on Upland Software in a report on Monday, June 26th. They issued a “buy” rating and a $27.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $27.40.
Shares of Upland Software (NASDAQ:UPLD) traded up 0.73% during mid-day trading on Monday, hitting $23.58. 93,234 shares of the stock traded hands. Upland Software has a 52 week low of $7.48 and a 52 week high of $25.56. The firm’s 50-day moving average is $23.69 and its 200-day moving average is $18.93. The stock’s market cap is $485.72 million.
Upland Software (NASDAQ:UPLD) last issued its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.50. The firm had revenue of $23.30 million during the quarter, compared to analysts’ expectations of $21.84 million. Upland Software had a negative return on equity of 23.25% and a negative net margin of 19.10%. Upland Software’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) earnings per share. On average, analysts forecast that Upland Software will post $0.94 earnings per share for the current year.
In other Upland Software news, major shareholder Systems Corp Wave sold 561,712 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $22.68, for a total value of $12,739,628.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 30.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UPLD. Pembroke Management LTD increased its position in Upland Software by 180.0% in the second quarter. Pembroke Management LTD now owns 599,100 shares of the software maker’s stock worth $13,174,000 after buying an additional 385,102 shares in the last quarter. Vanguard Group Inc. increased its position in Upland Software by 55.3% in the second quarter. Vanguard Group Inc. now owns 403,955 shares of the software maker’s stock worth $8,883,000 after buying an additional 143,808 shares in the last quarter. Lyon Street Capital LLC purchased a new position in Upland Software during the second quarter worth $7,321,000. Precept Management LLC increased its position in Upland Software by 41.3% in the second quarter. Precept Management LLC now owns 278,700 shares of the software maker’s stock worth $6,129,000 after buying an additional 81,425 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Upland Software during the second quarter worth approximately $5,584,000. 12.64% of the stock is currently owned by institutional investors.
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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