Upland Software Inc (UPLD) Sees Large Growth in Short Interest
Upland Software Inc (NASDAQ:UPLD) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 28,712 shares, an increase of 97.6% from the March 15th total of 14,532 shares. Based on an average daily trading volume, of 51,945 shares, the days-to-cover ratio is presently 0.6 days.
A number of hedge funds and other institutional investors have recently made changes to their positions in UPLD. RBF Capital LLC boosted its position in shares of Upland Software by 0.8% in the third quarter. RBF Capital LLC now owns 11,717 shares of the software maker’s stock worth $103,000 after buying an additional 91 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Upland Software by 6.4% in the fourth quarter. Renaissance Technologies LLC now owns 113,000 shares of the software maker’s stock worth $1,011,000 after buying an additional 6,800 shares during the last quarter. Finally, Bank of Montreal Can boosted its position 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 worth $2,793,000 after buying an additional 148,638 shares during the last quarter. Institutional investors and hedge funds own 5.58% of the company’s stock.
Several brokerages have issued reports on UPLD. Craig Hallum began coverage on Upland Software in a research note on Wednesday. They issued a “buy” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Upland Software in a research report on Monday, April 3rd. Canaccord Genuity upped their target price on Upland Software from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, January 12th. Finally, Zacks Investment Research lowered Upland Software from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Upland Software currently has a consensus rating of “Buy” and a consensus target price of $13.25.
Shares of Upland Software (NASDAQ:UPLD) traded up 5.23% during trading on Thursday, hitting $16.91. The stock had a trading volume of 138,628 shares. Upland Software has a 52 week low of $6.79 and a 52 week high of $17.27. The stock’s market capitalization is $301.29 million. The firm has a 50 day moving average price of $14.44 and a 200-day moving average price of $10.91.
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Upland Software Company Profile
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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