Upland Software, Inc. (UPLD) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Upland Software, Inc. (NASDAQ:UPLD) released its quarterly earnings results on Thursday. The software maker reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01, Briefing.com reports. The business had revenue of $26.07 million for the quarter, compared to analyst estimates of $25.33 million. Upland Software had a negative net margin of 19.10% and a negative return on equity of 23.25%. The company’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share.
Upland Software (UPLD) traded down $0.10 during trading hours on Thursday, reaching $21.18. 135,407 shares of the company’s stock were exchanged, compared to its average volume of 102,860. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.71. Upland Software has a 12 month low of $7.48 and a 12 month high of $25.56.
In other news, CFO Michael Douglass Hill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $22.01, for a total value of $440,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Systems Corp Wave sold 44,903 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $22.06, for a total transaction of $990,560.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 170,108 shares of company stock worth $3,743,473. 30.20% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of UPLD. State Street Corp purchased a new position in shares of Upland Software in the 2nd quarter valued at $1,896,000. The Manufacturers Life Insurance Company raised its stake in shares of Upland Software by 784.1% in the 2nd 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. Finally, California State Teachers Retirement System purchased a new position in shares of Upland Software in the 2nd quarter valued at $284,000. 25.79% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the stock. Roth Capital downgraded shares of Upland Software from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Friday, July 14th. Zacks Investment Research raised shares of Upland Software from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Saturday, July 22nd. BidaskClub raised shares of Upland Software from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. TheStreet raised shares of Upland Software from a “d” rating to a “c-” rating in a research note on Tuesday, July 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $29.00 price objective (up previously from $25.00) on shares of Upland Software in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.40.
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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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