Upland Software (UPLD) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Upland Software (NASDAQ:UPLD) from a hold rating to a buy rating in a research note published on Thursday morning. The brokerage currently has $45.00 target price on the software maker’s stock.
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. “
A number of other research analysts also recently issued reports on UPLD. BidaskClub upgraded shares of Upland Software from a buy rating to a strong-buy rating in a research report on Saturday, February 23rd. TheStreet upgraded shares of Upland Software from a c rating to a b- rating in a research report on Friday, March 8th. Craig Hallum restated a buy rating and set a $48.00 target price on shares of Upland Software in a research report on Friday, March 8th. Needham & Company LLC upped their target price on shares of Upland Software from $40.00 to $45.00 and gave the company a buy rating in a research report on Friday, March 8th. Finally, Canaccord Genuity restated a buy rating and set a $40.00 target price on shares of Upland Software in a research report on Monday, December 17th. Nine investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $44.29.
Upland Software (NASDAQ:UPLD) last issued its quarterly earnings data on Thursday, March 7th. The software maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.19. Upland Software had a negative net margin of 6.64% and a positive return on equity of 24.98%. The firm had revenue of $45.18 million for the quarter, compared to analyst estimates of $43.17 million. Analysts expect that Upland Software will post 1.31 earnings per share for the current fiscal year.
In other Upland Software news, CEO John T. Mcdonald sold 20,000 shares of the company’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 1,565,947 shares in the company, valued at approximately $46,978,410. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Timothy Mattox sold 28,196 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.27, for a total transaction of $1,135,452.92. Following the transaction, the chief operating officer now owns 509,230 shares in the company, valued at $20,506,692.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,000 shares of company stock worth $2,247,613. Corporate insiders own 14.70% of the company’s stock.
Several large investors have recently made changes to their positions in UPLD. Bank of America Corp DE raised its position in shares of Upland Software by 13.9% in the 2nd quarter. Bank of America Corp DE now owns 26,825 shares of the software maker’s stock valued at $922,000 after acquiring an additional 3,266 shares during the period. Northern Trust Corp raised its position in shares of Upland Software by 67.3% in the 2nd quarter. Northern Trust Corp now owns 181,302 shares of the software maker’s stock valued at $6,232,000 after acquiring an additional 72,911 shares during the period. American Century Companies Inc. raised its position in shares of Upland Software by 204.2% in the 3rd quarter. American Century Companies Inc. now owns 82,906 shares of the software maker’s stock valued at $2,679,000 after acquiring an additional 55,651 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Upland Software in the 3rd quarter valued at approximately $810,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Upland Software in the 3rd quarter valued at approximately $2,422,000. Institutional investors and hedge funds own 63.07% of the company’s stock.
About Upland Software
Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.
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