California Public Employees Retirement System Has $7.15 Million Stock Position in Coupa Software Incorporated (NASDAQ:COUP)

California Public Employees Retirement System trimmed its stake in shares of Coupa Software Incorporated (NASDAQ:COUPGet Rating) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 125,217 shares of the technology company’s stock after selling 5,019 shares during the period. California Public Employees Retirement System’s holdings in Coupa Software were worth $7,150,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Heritage Wealth Advisors acquired a new position in shares of Coupa Software in the 2nd quarter worth approximately $41,000. Advisors Asset Management Inc. boosted its holdings in shares of Coupa Software by 56.9% in the 1st quarter. Advisors Asset Management Inc. now owns 965 shares of the technology company’s stock worth $98,000 after acquiring an additional 350 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Coupa Software in the 1st quarter worth approximately $139,000. Quantamental Technologies LLC acquired a new position in shares of Coupa Software in the 1st quarter worth approximately $202,000. Finally, Wellington Management Group LLP acquired a new position in shares of Coupa Software in the 1st quarter worth approximately $213,000.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada downgraded Coupa Software from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $65.00 to $55.00 in a report on Monday, August 22nd. Citigroup boosted their target price on Coupa Software from $77.00 to $82.00 in a report on Wednesday, September 7th. StockNews.com started coverage on Coupa Software in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Morgan Stanley reduced their price objective on Coupa Software from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, KeyCorp reduced their price objective on Coupa Software from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, August 30th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Coupa Software currently has a consensus rating of “Hold” and an average price target of $86.90.

Coupa Software Stock Performance

Shares of Coupa Software stock opened at $58.93 on Thursday. The company has a debt-to-equity ratio of 6.81, a quick ratio of 1.82 and a current ratio of 1.82. Coupa Software Incorporated has a 52 week low of $40.29 and a 52 week high of $205.31. The firm has a fifty day moving average of $54.91 and a two-hundred day moving average of $61.62. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -12.84 and a beta of 1.31.

Coupa Software (NASDAQ:COUPGet Rating) last released its quarterly earnings data on Tuesday, September 6th. The technology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.13. Coupa Software had a negative net margin of 43.73% and a negative return on equity of 24.29%. The business had revenue of $211.10 million during the quarter, compared to analysts’ expectations of $203.99 million. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts predict that Coupa Software Incorporated will post -2.26 EPS for the current year.

Insider Activity at Coupa Software

In related news, CEO Robert Bernshteyn sold 8,074 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total value of $534,498.80. Following the completion of the sale, the chief executive officer now owns 252,274 shares in the company, valued at approximately $16,700,538.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Coupa Software news, CEO Robert Bernshteyn sold 8,074 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $66.20, for a total transaction of $534,498.80. Following the completion of the transaction, the chief executive officer now owns 252,274 shares in the company, valued at approximately $16,700,538.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony D. Tiscornia sold 3,835 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $62.85, for a total value of $241,029.75. Following the transaction, the chief financial officer now owns 4,039 shares of the company’s stock, valued at approximately $253,851.15. The disclosure for this sale can be found here. Insiders sold a total of 18,437 shares of company stock worth $1,205,646 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Coupa Software Profile

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Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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Institutional Ownership by Quarter for Coupa Software (NASDAQ:COUP)

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