Zacks Investment Research Upgrades Upland Software, Inc. (UPLD) to Hold
Upland Software, Inc. (NASDAQ:UPLD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors 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 equities research analysts have also recently commented on the company. Canaccord Genuity raised their target price on Upland Software from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. BidaskClub cut Upland Software from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. TheStreet raised Upland Software from a “d” rating to a “c-” rating in a research note on Tuesday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price (up previously from $25.00) on shares of Upland Software in a research note on Friday, July 14th. Finally, Roth Capital cut Upland Software from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $27.40.
Upland Software (NASDAQ:UPLD) last released 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). Upland Software had a negative return on equity of 23.25% and a negative net margin of 19.10%. The business had revenue of $23.30 million for the quarter, compared to analyst estimates of $21.84 million. During the same period in the prior year, the business earned ($0.22) EPS. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, analysts predict that Upland Software will post $0.94 EPS for the current fiscal year.
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In other news, major shareholder Systems Corp Wave sold 4,805 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $22.25, for a total value of $106,911.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Douglass Hill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $22.01, for a total value of $440,200.00. The disclosure for this sale can be found here. Insiders sold 261,388 shares of company stock valued at $5,986,223 in the last three months. Insiders own 30.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Upland Software by 784.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,179 shares of the software maker’s stock worth $158,000 after acquiring an additional 6,367 shares during the period. New York State Common Retirement Fund bought a new stake in Upland Software during the second quarter worth $172,000. Sterling Capital Management LLC bought a new stake in Upland Software during the second quarter worth $201,000. Menta Capital LLC bought a new stake in Upland Software during the second quarter worth $249,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in Upland Software during the second quarter worth $258,000. Institutional investors and hedge funds own 26.92% 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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