Bank of America Corp DE boosted its stake in Upland Software Inc (NASDAQ:UPLD) by 28.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,056 shares of the software maker’s stock after purchasing an additional 9,075 shares during the quarter. Bank of America Corp DE owned about 0.19% of Upland Software worth $1,116,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. NJ State Employees Deferred Compensation Plan acquired a new position in Upland Software in the fourth quarter valued at about $245,000. Evanson Asset Management LLC grew its position in Upland Software by 18.4% in the fourth quarter. Evanson Asset Management LLC now owns 10,887 shares of the software maker’s stock valued at $296,000 after acquiring an additional 1,690 shares during the last quarter. Vanguard Group Inc. grew its position in Upland Software by 8.0% in the third quarter. Vanguard Group Inc. now owns 750,370 shares of the software maker’s stock valued at $24,245,000 after acquiring an additional 55,637 shares during the last quarter. Teachers Advisors LLC grew its position in Upland Software by 7.6% in the third quarter. Teachers Advisors LLC now owns 31,777 shares of the software maker’s stock valued at $1,027,000 after acquiring an additional 2,249 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Upland Software in the third quarter valued at about $3,806,000. 68.82% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Upland Software from a “strong-buy” rating to a “sell” rating in a research report on Saturday. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 target price on shares of Upland Software in a research report on Monday, May 6th. They noted that the move was a valuation call. BidaskClub upgraded Upland Software from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Needham & Company LLC lifted their target price on Upland Software to $50.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Finally, SunTrust Banks lifted their target price on Upland Software to $48.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Upland Software presently has a consensus rating of “Buy” and a consensus price target of $48.43.
Upland Software stock opened at $46.72 on Friday. Upland Software Inc has a 12-month low of $25.12 and a 12-month high of $48.19. The company has a current ratio of 0.57, a quick ratio of 0.63 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 1.85 and a beta of 0.69.
Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.20. The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $48.39 million. Upland Software had a positive return on equity of 27.01% and a negative net margin of 8.77%. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. As a group, equities analysts anticipate that Upland Software Inc will post 1.26 earnings per share for the current fiscal year.
In other news, COO Timothy Mattox sold 28,196 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $40.27, for a total transaction of $1,135,452.92. Following the sale, the chief operating officer now directly owns 509,230 shares in the company, valued at $20,506,692.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Douglass Hill sold 41,431 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $41.31, for a total value of $1,711,514.61. Following the sale, the chief financial officer now owns 304,435 shares in the company, valued at $12,576,209.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,431 shares of company stock worth $3,359,128. Company insiders own 14.70% of the company’s stock.
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Upland Software Profile
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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