Upland Software (NASDAQ:UPLD) Announces Quarterly Earnings Results

Upland Software (NASDAQ:UPLD) announced its quarterly earnings results on Friday. The software maker reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.27, FiscalAI reports. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The business had revenue of $49.14 million for the quarter, compared to the consensus estimate of $48.61 million.

Upland Software Price Performance

UPLD stock traded down $0.75 during trading on Friday, hitting $5.35. 83,275 shares of the company traded hands, compared to its average volume of 29,556. The stock’s 50-day simple moving average is $5.15 and its 200 day simple moving average is $7.13. Upland Software has a 1 year low of $4.00 and a 1 year high of $39.10. The company has a market cap of $15.71 million, a PE ratio of -0.76 and a beta of 1.44.

Analysts Set New Price Targets

A number of equities research analysts recently commented on UPLD shares. Canaccord Genuity Group set a $15.00 target price on shares of Upland Software in a research report on Thursday, July 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Upland Software in a research note on Monday, June 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Upland Software in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in UPLD. Squarepoint Ops LLC boosted its stake in Upland Software by 34.7% during the fourth quarter. Squarepoint Ops LLC now owns 139,197 shares of the software maker’s stock worth $199,000 after buying an additional 35,878 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Upland Software by 15.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 103,825 shares of the software maker’s stock worth $148,000 after buying an additional 13,585 shares during the last quarter. Boston Partners purchased a new stake in shares of Upland Software during the 3rd quarter valued at approximately $121,000. Victory Capital Management Inc. purchased a new stake in Upland Software in the third quarter valued at $213,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Upland Software in the 2nd quarter valued at $122,000. 77.78% of the stock is owned by institutional investors and hedge funds.

About Upland Software

Upland Software, Inc is a provider of enterprise work management software delivered through a cloud-based, software-as-a-service model. The company offers a suite of integrated applications designed to help organizations plan, execute and measure work across various business functions including project management, marketing workflows, document automation and contract management.

Its flagship product lines include Upland PSA for professional services automation, Upland Bluebeam for digital collaboration in architecture and engineering workflows, Upland Qvidian for proposal automation, and Upland Pinpoint for customer communication management.