Upland Software, Inc. (NASDAQ:UPLD) posted its quarterly earnings results on Thursday. The software maker reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.50, Briefing.com reports. Upland Software had a negative net margin of 17.39% and a negative return on equity of 23.17%. The firm had revenue of $23.30 million for the quarter, compared to analysts’ expectations of $21.84 million. During the same quarter in the previous year, the company earned ($0.22) EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year.
Shares of Upland Software (NASDAQ:UPLD) traded up 0.09% during midday trading on Friday, reaching $23.00. 193,828 shares of the company traded hands. Upland Software has a 1-year low of $7.48 and a 1-year high of $25.56. The company has a 50 day moving average price of $23.47 and a 200 day moving average price of $18.41. The company’s market capitalization is $424.05 million.
A number of equities research analysts have recently commented on UPLD shares. BidaskClub upgraded shares of Upland Software from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. SunTrust Banks, Inc. started coverage on shares of Upland Software in a report on Monday, June 26th. They set a “buy” rating and a $27.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $29.00 price target (up previously from $25.00) on shares of Upland Software in a report on Friday, July 14th. Craig Hallum started coverage on shares of Upland Software in a report on Wednesday, April 19th. They set a “buy” rating on the stock. Finally, Zacks Investment Research upgraded shares of Upland Software from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $24.40.
In other Upland Software news, major shareholder Systems Corp Wave sold 91,280 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $24.57, for a total transaction of $2,242,749.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 30.20% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. TFS Capital LLC bought a new stake in Upland Software during the first quarter valued at $222,000. Bank of Montreal Can increased its stake in Upland Software by 547.2% in the first quarter. Bank of Montreal Can now owns 175,801 shares of the software maker’s stock valued at $2,793,000 after buying an additional 148,638 shares in the last quarter. Pembroke Management LTD bought a new stake in Upland Software during the first quarter valued at $3,400,000. Driehaus Capital Management LLC bought a new stake in Upland Software during the first quarter valued at $1,227,000. Finally, EAM Investors LLC bought a new stake in Upland Software during the first quarter valued at $702,000. 12.39% of the stock is currently owned by institutional investors.
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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