Upland Software, Inc. (NASDAQ:UPLD) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its holdings in Upland Software, Inc. (NASDAQ:UPLDGet Rating) by 4.5% during the 2nd quarter, Holdings Channel reports. The fund owned 341,585 shares of the software maker’s stock after selling 16,104 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Upland Software were worth $4,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Amalgamated Bank bought a new position in shares of Upland Software in the first quarter worth $83,000. BNP Paribas Arbitrage SA increased its stake in Upland Software by 50.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,823 shares of the software maker’s stock valued at $314,000 after buying an additional 5,944 shares during the period. River & Mercantile Asset Management LLP bought a new stake in shares of Upland Software during the 1st quarter worth about $535,000. Ensign Peak Advisors Inc acquired a new stake in shares of Upland Software in the 1st quarter worth approximately $87,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Upland Software by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 397,853 shares of the software maker’s stock valued at $7,006,000 after acquiring an additional 18,967 shares in the last quarter. Institutional investors own 75.17% of the company’s stock.

Upland Software Price Performance

Shares of Upland Software stock opened at $8.74 on Wednesday. Upland Software, Inc. has a 12-month low of $8.71 and a 12-month high of $37.16. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.65. The stock’s fifty day moving average is $11.09 and its 200-day moving average is $13.72.

Upland Software (NASDAQ:UPLDGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The software maker reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Upland Software had a positive return on equity of 6.95% and a negative net margin of 18.57%. The company had revenue of $80.23 million during the quarter, compared to analysts’ expectations of $79.41 million. Equities research analysts predict that Upland Software, Inc. will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ian Burk sold 16,748 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $11.21, for a total transaction of $187,745.08. Following the transaction, the insider now directly owns 72,081 shares of the company’s stock, valued at $808,028.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ian Burk sold 16,748 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $11.21, for a total transaction of $187,745.08. Following the completion of the sale, the insider now directly owns 72,081 shares in the company, valued at $808,028.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John T. Mcdonald acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were bought at an average cost of $11.22 per share, for a total transaction of $112,200.00. Following the completion of the transaction, the chief executive officer now directly owns 183,738 shares of the company’s stock, valued at approximately $2,061,540.36. The disclosure for this purchase can be found here. In the last three months, insiders have bought 60,000 shares of company stock worth $662,300. Corporate insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

UPLD has been the topic of several recent analyst reports. Raymond James dropped their target price on Upland Software from $24.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Craig Hallum dropped their price objective on Upland Software from $22.00 to $13.00 in a research note on Thursday, August 4th. Canaccord Genuity Group decreased their target price on Upland Software from $24.00 to $19.00 in a research note on Friday, August 5th. Truist Financial dropped their price target on shares of Upland Software from $30.00 to $20.00 in a research report on Friday, July 15th. Finally, StockNews.com upgraded shares of Upland Software from a “hold” rating to a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Upland Software has a consensus rating of “Moderate Buy” and a consensus target price of $21.63.

Upland Software Profile

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Upland Software, Inc provides cloud-based enterprise work management software in the United States, the United Kingdom, Canada, and internationally. It offers a family of software applications under the Upland brand in the areas of marketing, sales, contact center, project management, information technology, business operations, and human resources and legal.

Further Reading

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Institutional Ownership by Quarter for Upland Software (NASDAQ:UPLD)

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