Upland Software (UPLD) Sees Unusually-High Trading Volume on Analyst Upgrade

Upland Software Inc (NASDAQ:UPLD) shares saw unusually-high trading volume on Friday after Canaccord Genuity raised their price target on the stock from $32.00 to $35.00. Canaccord Genuity currently has a buy rating on the stock. Approximately 546,946 shares changed hands during mid-day trading, an increase of 129% from the previous session’s volume of 239,184 shares.The stock last traded at $29.80 and had previously closed at $30.05.

UPLD has been the subject of a number of other reports. BidaskClub upgraded shares of Upland Software from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. SunTrust Banks restated a “buy” rating and issued a $32.00 price objective on shares of Upland Software in a research note on Friday, March 9th. Needham & Company LLC boosted their price objective on shares of Upland Software from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 9th. ValuEngine cut shares of Upland Software from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Craig Hallum upped their target price on shares of Upland Software from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $31.67.

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In related news, CEO John T. Mcdonald sold 67,500 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $22.23, for a total transaction of $1,500,525.00. Following the completion of the transaction, the chief executive officer now directly owns 1,758,288 shares in the company, valued at approximately $39,086,742.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Douglass Hill sold 40,000 shares of the company’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $29.79, for a total transaction of $1,191,600.00. Following the transaction, the chief financial officer now owns 239,225 shares of the company’s stock, valued at $7,126,512.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 310,000 shares of company stock valued at $8,048,930. Corporate insiders own 30.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in UPLD. New York State Common Retirement Fund acquired a new position in Upland Software during the 2nd quarter valued at $172,000. Northern Trust Corp raised its stake in shares of Upland Software by 449.9% in the 2nd quarter. Northern Trust Corp now owns 88,171 shares of the software maker’s stock valued at $1,939,000 after buying an additional 72,138 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Upland Software by 55.3% in the 2nd quarter. Vanguard Group Inc. now owns 403,955 shares of the software maker’s stock valued at $8,883,000 after buying an additional 143,808 shares in the last quarter. State Street Corp acquired a new position in shares of Upland Software in the 2nd quarter valued at $1,896,000. Finally, 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 buying an additional 6,367 shares in the last quarter. Hedge funds and other institutional investors own 50.19% of the company’s stock.

The firm has a market capitalization of $624.09, a P/E ratio of -28.28, a PEG ratio of 2.02 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.69 and a current ratio of 0.69.

Upland Software (NASDAQ:UPLD) last announced its quarterly earnings data on Thursday, March 8th. The software maker reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. Upland Software had a negative net margin of 19.12% and a negative return on equity of 3.16%. The company had revenue of $27.80 million during the quarter, compared to analysts’ expectations of $27.15 million. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue was up 43.3% on a year-over-year basis. equities analysts predict that Upland Software Inc will post 0.74 earnings per share for the current year.

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Upland Software Company Profile

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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