Upland Software, Inc. (UPLD) Rating Lowered to Strong Sell at Zacks Investment Research
Upland Software, Inc. (NASDAQ:UPLD) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
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. “
Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of Upland Software from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. SunTrust Banks, Inc. started coverage on shares of Upland Software in a research note on Monday, June 26th. They issued a “buy” rating and a $27.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $29.00 price target (up previously from $25.00) on shares of Upland Software in a research note on Friday, July 14th. Canaccord Genuity lifted their price target on shares of Upland Software from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, TheStreet upgraded shares of Upland Software from a “d” rating to a “c-” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $27.40.
Upland Software (UPLD) opened at 20.34 on Wednesday. The firm’s market cap is $418.98 million. Upland Software has a one year low of $7.48 and a one year high of $25.56. The stock has a 50 day moving average of $22.99 and a 200 day moving average of $20.63.
Upland Software (NASDAQ:UPLD) last issued its quarterly earnings results on Thursday, August 10th. The software maker reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). The company had revenue of $23.30 million during the quarter, compared to the consensus estimate of $21.84 million. Upland Software had a negative return on equity of 23.25% and a negative net margin of 19.10%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. On average, equities analysts forecast that Upland Software will post $0.94 earnings per share for the current year.
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In other Upland Software news, CFO Michael Douglass Hill sold 20,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.43, for a total transaction of $428,600.00. Following the completion of the sale, the chief financial officer now owns 308,837 shares in the company, valued at $6,618,376.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David May sold 25,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $21.43, for a total transaction of $535,750.00. Following the sale, the director now owns 138,500 shares of the company’s stock, valued at approximately $2,968,055. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,388 shares of company stock valued at $5,546,023. 30.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 valued at $158,000 after acquiring an additional 6,367 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Upland Software during the second quarter valued at $172,000. Sterling Capital Management LLC acquired a new position in shares of Upland Software during the second quarter valued at $201,000. Menta Capital LLC acquired a new position in shares of Upland Software during the second quarter valued at $249,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Upland Software during the second quarter valued at $258,000. Hedge funds and other institutional investors 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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