Renaissance Technologies LLC Buys 65,200 Shares of Upland Software, Inc. (NASDAQ:UPLD)
Renaissance Technologies LLC increased its stake in Upland Software, Inc. (NASDAQ:UPLD) by 57.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 178,200 shares of the software maker’s stock after buying an additional 65,200 shares during the period. Renaissance Technologies LLC’s holdings in Upland Software were worth $2,832,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. TFS Capital LLC bought a new stake in shares of Upland Software during the first quarter valued at about $222,000. EAM Investors LLC bought a new stake in shares of Upland Software during the first quarter valued at about $702,000. Bank of Montreal Can increased its stake in shares of Upland Software by 547.2% in the first quarter. Bank of Montreal Can now owns 175,801 shares of the software maker’s stock valued at $2,793,000 after buying an additional 148,638 shares during the period. Finally, Pembroke Management LTD bought a new stake in shares of Upland Software during the first quarter valued at about $3,400,000. 12.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Upland Software, Inc. (NASDAQ UPLD) traded up 0.44% during mid-day trading on Friday, reaching $23.08. The company’s stock had a trading volume of 350,847 shares. The company has a 50 day moving average of $23.48 and a 200-day moving average of $18.50. Upland Software, Inc. has a 12 month low of $7.48 and a 12 month high of $25.56. The firm’s market capitalization is $410.32 million.
Upland Software (NASDAQ:UPLD) last announced its earnings results on Thursday, August 10th. The software maker reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.17 by $0.50. The business had revenue of $23.30 million during the quarter, compared to analyst estimates of $21.84 million. Upland Software had a negative return on equity of 27.06% and a negative net margin of 19.10%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.22) earnings per share. Equities research analysts forecast that Upland Software, Inc. will post $0.82 EPS for the current year.
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UPLD has been the topic of several recent research reports. BidaskClub raised Upland Software from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. SunTrust Banks, Inc. initiated coverage on Upland Software in a report on Monday, June 26th. They issued a “buy” rating and a $27.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price target (up previously from $25.00) on shares of Upland Software in a report on Friday, July 14th. Craig Hallum initiated coverage on Upland Software in a report on Wednesday, April 19th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised Upland Software from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Saturday, July 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Upland Software presently has a consensus rating of “Buy” and a consensus target price of $24.40.
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 available through this hyperlink. 30.20% of the stock is owned by insiders.
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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