Upland Software, Inc. (UPLD) Stock Rating Lowered by Zacks Investment Research
Upland Software, Inc. (NASDAQ:UPLD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.
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. “
Several other brokerages also recently weighed in on UPLD. Needham & Company LLC reiterated 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 began 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 cut Upland Software from a “c-” rating to a “d” rating in a report on Wednesday, May 17th. Finally, SunTrust Banks, Inc. assumed coverage on Upland Software in a report on Monday, June 26th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.75.
Shares of Upland Software (UPLD) traded down 1.8180% during midday trading on Thursday, hitting $23.5244. The stock had a trading volume of 8,508 shares. Upland Software has a one year low of $7.41 and a one year high of $24.84. The firm has a 50 day moving average price of $22.20 and a 200 day moving average price of $15.51. The stock’s market cap is $433.72 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, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $20.70 million for 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 quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities analysts forecast that Upland Software will post ($0.72) earnings per share for the current fiscal 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in UPLD. Pembroke Management LTD acquired a new position in Upland Software during the first quarter valued at approximately $3,400,000. Bank of Montreal Can raised its position in 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 last quarter. Driehaus Capital Management LLC acquired a new position in Upland Software during the first quarter valued at approximately $1,227,000. Renaissance Technologies LLC raised its position in Upland Software by 57.7% in the first quarter. Renaissance Technologies LLC now owns 178,200 shares of the software maker’s stock valued at $2,832,000 after buying an additional 65,200 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in Upland Software during the first quarter valued at approximately $702,000. 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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