Upland Software Stock Scheduled to Reverse Split on Wednesday, June 17th (NASDAQ:UPLD)

Upland Software, Inc. (NASDAQ:UPLD)’s stock is going to reverse split before the market opens on Wednesday, June 17th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, June 16th.

Upland Software Trading Down 7.3%

UPLD stock opened at $0.77 on Friday. Upland Software has a twelve month low of $0.50 and a twelve month high of $3.91. The company’s 50 day moving average is $0.73 and its two-hundred day moving average is $1.09. The stock has a market cap of $22.61 million, a P/E ratio of -1.10 and a beta of 1.36.

Upland Software (NASDAQ:UPLD) last released its quarterly earnings data on Friday, May 1st. The software maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Upland Software had a negative net margin of 7.08% and a negative return on equity of 51.46%. The company had revenue of $48.69 million for the quarter, compared to analysts’ expectations of $48.50 million.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their target price on Upland Software from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.67.

Hedge Funds Weigh In On Upland Software

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its stake in shares of Upland Software by 697.1% during the 1st quarter. NewEdge Advisors LLC now owns 11,940 shares of the software maker’s stock worth $34,000 after purchasing an additional 10,442 shares during the period. XTX Topco Ltd grew its stake in shares of Upland Software by 63.5% during the 2nd quarter. XTX Topco Ltd now owns 28,797 shares of the software maker’s stock worth $56,000 after purchasing an additional 11,187 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Upland Software by 15.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 103,825 shares of the software maker’s stock worth $148,000 after acquiring an additional 13,585 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Upland Software in the 3rd quarter worth approximately $32,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Upland Software in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 77.78% of the company’s stock.

About Upland Software

Upland Software, Inc is a provider of enterprise work management software delivered through a cloud-based, software-as-a-service model. The company offers a suite of integrated applications designed to help organizations plan, execute and measure work across various business functions including project management, marketing workflows, document automation and contract management.

Its flagship product lines include Upland PSA for professional services automation, Upland Bluebeam for digital collaboration in architecture and engineering workflows, Upland Qvidian for proposal automation, and Upland Pinpoint for customer communication management.