Upland Software Inc (NASDAQ:UPLD) Sees Significant Drop in Short Interest

Upland Software Inc (NASDAQ:UPLD) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 3,020,000 shares, a decline of 11.4% from the August 15th total of 3,410,000 shares. Based on an average daily trading volume, of 316,300 shares, the short-interest ratio is presently 9.5 days. Approximately 12.4% of the shares of the stock are sold short.

A number of research analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of Upland Software from $40.00 to $52.00 and gave the company a “buy” rating in a report on Friday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $53.00 price objective on shares of Upland Software in a research note on Wednesday, September 2nd. Credit Suisse Group lifted their target price on shares of Upland Software from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Raymond James boosted their price target on Upland Software from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Truist raised their price objective on Upland Software from $55.00 to $60.00 in a report on Wednesday, September 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Upland Software currently has an average rating of “Buy” and an average target price of $48.56.

Shares of UPLD opened at $36.14 on Friday. Upland Software has a fifty-two week low of $20.75 and a fifty-two week high of $45.00. The company’s fifty day moving average is $35.99 and its two-hundred day moving average is $32.45. The firm has a market cap of $1.06 billion, a PE ratio of -13.49, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 3.49.

Upland Software (NASDAQ:UPLD) last issued its earnings results on Thursday, August 6th. The software maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. Upland Software had a positive return on equity of 18.31% and a negative net margin of 25.50%. The business had revenue of $71.10 million for the quarter, compared to analyst estimates of $60.59 million. During the same period last year, the company posted ($0.24) EPS. The business’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts anticipate that Upland Software will post 0.81 earnings per share for the current year.

In other Upland Software news, CEO John T. Mcdonald sold 12,820 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $44.31, for a total transaction of $568,054.20. Following the completion of the transaction, the chief executive officer now owns 1,704,407 shares of the company’s stock, valued at $75,522,274.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Timothy Mattox sold 3,055 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $45.00, for a total value of $137,475.00. Following the completion of the transaction, the chief operating officer now directly owns 537,090 shares of the company’s stock, valued at $24,169,050. The disclosure for this sale can be found here. 10.60% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in UPLD. SG Americas Securities LLC lifted its stake in shares of Upland Software by 111.8% in the 1st quarter. SG Americas Securities LLC now owns 7,999 shares of the software maker’s stock valued at $215,000 after purchasing an additional 4,222 shares in the last quarter. Swiss National Bank lifted its position in Upland Software by 1.5% during the first quarter. Swiss National Bank now owns 41,600 shares of the software maker’s stock valued at $1,116,000 after buying an additional 600 shares in the last quarter. Citizens Financial Group Inc RI acquired a new position in Upland Software during the first quarter valued at approximately $55,000. Blair William & Co. IL grew its stake in Upland Software by 28.5% during the first quarter. Blair William & Co. IL now owns 19,393 shares of the software maker’s stock worth $520,000 after buying an additional 4,301 shares during the period. Finally, Private Advisors LLC increased its position in shares of Upland Software by 18.8% in the first quarter. Private Advisors LLC now owns 48,602 shares of the software maker’s stock worth $1,304,000 after acquiring an additional 7,704 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Upland Software Company Profile

Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.

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