Upland Software, Inc. (UPLD) Lowered to Neutral at Roth Capital

Roth Capital downgraded shares of Upland Software, Inc. (NASDAQ:UPLD) from a buy rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat reports. They currently have $26.00 price target on the software maker’s stock.

A number of other brokerages have also commented on UPLD. BidaskClub upgraded shares of Upland Software from a hold rating to a buy rating in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Upland Software from a hold rating to a strong sell rating in a report on Thursday. Needham & Company LLC restated a buy rating and set a $18.00 price objective on shares of Upland Software in a report on Monday, April 3rd. SunTrust Banks, Inc. assumed coverage on shares of Upland Software in a report on Monday, June 26th. They set a buy rating and a $27.00 price objective on the stock. Finally, William Blair restated an outperform rating on shares of Upland Software in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Upland Software has an average rating of Buy and an average price target of $20.75.

Shares of Upland Software (NASDAQ:UPLD) traded down 1.96% during mid-day trading on Friday, reaching $23.49. 94,038 shares of the company’s stock traded hands. The firm’s market cap is $433.09 million. The company’s 50 day moving average is $22.20 and its 200-day moving average is $15.51. Upland Software has a 52 week low of $7.41 and a 52 week high of $24.84.

Upland Software (NASDAQ:UPLD) last posted its earnings results on Thursday, May 11th. The software maker reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The company had revenue of $20.70 million for the quarter, compared to analyst estimates of $20.55 million. Upland Software had a negative net margin of 17.39% and a negative return on equity of 23.17%. Upland Software’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities analysts expect that Upland Software will post ($0.72) earnings per share for the current fiscal year.

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In related news, major shareholder Systems Corp Wave sold 561,712 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $22.68, for a total transaction of $12,739,628.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 30.20% of the company’s stock.

Several large investors have recently modified their holdings of UPLD. Bank of Montreal Can raised its stake in shares of Upland Software by 5.5% in the second quarter. Bank of Montreal Can now owns 185,500 shares of the software maker’s stock worth $4,079,000 after buying an additional 9,699 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Upland Software during the first quarter worth approximately $441,000. Driehaus Capital Management LLC acquired a new stake in shares of Upland Software during the first quarter valued at about $1,227,000. Bank of America Corp DE acquired a new stake in shares of Upland Software during the first quarter valued at about $362,000. Finally, Renaissance Technologies LLC raised its stake in shares of Upland Software by 57.7% in the first quarter. Renaissance Technologies LLC now owns 178,200 shares of the software maker’s stock valued at $2,832,000 after buying an additional 65,200 shares during the last quarter. Institutional investors and hedge funds own 10.55% of the company’s stock.

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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