Upland Software (NASDAQ:UPLD) Releases Earnings Results, Beats Estimates By $0.27 EPS

Upland Software (NASDAQ:UPLD) announced its earnings results on Friday. The software maker reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.27, FiscalAI reports. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The company had revenue of $49.14 million for the quarter, compared to analysts’ expectations of $48.61 million.

Upland Software Price Performance

NASDAQ:UPLD traded down $0.60 during trading hours on Friday, hitting $5.50. The stock had a trading volume of 67,971 shares, compared to its average volume of 29,344. The company has a 50 day simple moving average of $5.15 and a two-hundred day simple moving average of $7.13. The firm has a market capitalization of $16.13 million, a price-to-earnings ratio of -0.76 and a beta of 1.44. Upland Software has a one year low of $4.00 and a one year high of $39.10.

Hedge Funds Weigh In On Upland Software

A number of hedge funds and other institutional investors have recently bought and sold shares of UPLD. NewEdge Advisors LLC boosted its holdings in shares of Upland Software by 697.1% in 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 in the last quarter. Dimensional Fund Advisors LP bought a new position in Upland Software during the third quarter valued at approximately $32,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Upland Software in the 3rd quarter valued at $34,000. Centiva Capital LP purchased a new position in Upland Software in the 3rd quarter worth $52,000. Finally, XTX Topco Ltd lifted its stake in Upland Software by 63.5% in the second 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 last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UPLD. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Upland Software in a research report on Tuesday, July 28th. Canaccord Genuity Group set a $15.00 target price on Upland Software in a research note on Thursday, July 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Upland Software in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.