Upland Software (NASDAQ:UPLD) Trading Down 4.5%

Upland Software Inc (NASDAQ:UPLD)’s share price traded down 4.5% on Wednesday . The stock traded as low as $49.20 and last traded at $47.32. 40,842 shares were traded during mid-day trading, a decline of 88% from the average session volume of 347,671 shares. The stock had previously closed at $49.54.

Several equities analysts have recently weighed in on the company. Roth Capital raised their price objective on Upland Software from $54.00 to $58.00 in a report on Tuesday, May 28th. Zacks Investment Research cut Upland Software from a “hold” rating to a “sell” rating in a report on Friday, May 17th. Jefferies Financial Group assumed coverage on Upland Software in a report on Friday, May 31st. They issued a “buy” rating and a $61.00 price objective for the company. Craig Hallum restated a “buy” rating and issued a $56.00 price objective (up previously from $52.00) on shares of Upland Software in a report on Friday, May 31st. Finally, BidaskClub upgraded Upland Software from a “buy” rating to a “strong-buy” rating in a report on Friday, May 24th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $51.50.

The company has a market cap of $1.01 billion, a PE ratio of 40.64, a PEG ratio of 1.93 and a beta of 0.66. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 3.23.

Upland Software (NASDAQ:UPLD) last issued its earnings results on Thursday, May 2nd. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.20. Upland Software had a negative net margin of 8.77% and a positive return on equity of 27.01%. The business had revenue of $48.50 million during the quarter, compared to the consensus estimate of $48.39 million. During the same period last year, the business posted $0.37 EPS. Upland Software’s revenue was up 53.5% on a year-over-year basis. Equities research analysts expect that Upland Software Inc will post 1.26 EPS for the current year.

In related news, CFO Michael Douglass Hill sold 41,431 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $41.31, for a total value of $1,711,514.61. Following the completion of the sale, the chief financial officer now directly owns 304,435 shares in the company, valued at approximately $12,576,209.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. General Equity Holdings LP acquired a new position in Upland Software in the first quarter valued at $4,689,000. HighTower Advisors LLC raised its holdings in shares of Upland Software by 29.1% during the first quarter. HighTower Advisors LLC now owns 10,865 shares of the software maker’s stock valued at $459,000 after purchasing an additional 2,450 shares during the period. SEI Investments Co raised its holdings in shares of Upland Software by 928.1% during the first quarter. SEI Investments Co now owns 16,152 shares of the software maker’s stock valued at $680,000 after purchasing an additional 14,581 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Upland Software by 423.3% during the first quarter. Goldman Sachs Group Inc. now owns 81,846 shares of the software maker’s stock valued at $3,467,000 after purchasing an additional 66,207 shares during the period. Finally, Voya Investment Management LLC acquired a new position in shares of Upland Software during the first quarter valued at about $284,000. Hedge funds and other institutional investors own 66.55% of the company’s stock.

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About Upland Software (NASDAQ:UPLD)

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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