Bank of America Corp DE lifted its position in shares of Upland Software Inc (NASDAQ:UPLD) by 28.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 41,056 shares of the software maker’s stock after purchasing an additional 9,075 shares during the period. Bank of America Corp DE’s holdings in Upland Software were worth $1,116,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Upland Software by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 94,170 shares of the software maker’s stock valued at $3,043,000 after purchasing an additional 4,280 shares during the period. BlackRock Inc. boosted its stake in Upland Software by 8.0% during the 3rd quarter. BlackRock Inc. now owns 1,104,714 shares of the software maker’s stock valued at $35,694,000 after purchasing an additional 82,162 shares during the period. Dimensional Fund Advisors LP acquired a new position in Upland Software during the 3rd quarter valued at about $3,806,000. MetLife Investment Advisors LLC boosted its stake in Upland Software by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 11,642 shares of the software maker’s stock valued at $376,000 after purchasing an additional 4,139 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Upland Software by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 31,777 shares of the software maker’s stock valued at $1,027,000 after purchasing an additional 2,249 shares during the period. 68.82% of the stock is currently owned by institutional investors.
In other Upland Software news, COO Timothy Mattox sold 28,196 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $40.27, for a total transaction of $1,135,452.92. Following the sale, the chief operating officer now directly owns 509,230 shares in the company, valued at approximately $20,506,692.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Douglass Hill sold 41,431 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $41.31, for a total transaction of $1,711,514.61. Following the sale, the chief financial officer now owns 304,435 shares in the company, valued at $12,576,209.85. The disclosure for this sale can be found here. Insiders have sold a total of 82,431 shares of company stock worth $3,359,128 over the last 90 days. 14.70% of the stock is owned by insiders.
A number of research firms have issued reports on UPLD. Zacks Investment Research lowered shares of Upland Software from a “strong-buy” rating to a “sell” rating in a research note on Saturday. BidaskClub raised shares of Upland Software from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Canaccord Genuity reissued a “buy” rating and set a $52.00 target price on shares of Upland Software in a research note on Monday, May 6th. They noted that the move was a valuation call. Needham & Company LLC boosted their target price on shares of Upland Software to $50.00 and gave the company a “positive” rating in a research note on Tuesday, April 23rd. Finally, SunTrust Banks boosted their target price on shares of Upland Software to $48.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.43.
UPLD stock opened at $46.72 on Friday. Upland Software Inc has a 52 week low of $25.12 and a 52 week high of $48.19. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 39.59, a P/E/G ratio of 1.85 and a beta of 0.69. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.63 and a current ratio of 0.57.
Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.20. Upland Software had a negative net margin of 8.77% and a positive return on equity of 27.01%. The company had revenue of $48.50 million for the quarter, compared to the consensus estimate of $48.39 million. During the same period in the previous year, the firm earned $0.37 EPS. Upland Software’s revenue was up 53.5% on a year-over-year basis. On average, research analysts expect that Upland Software Inc will post 1.26 EPS for the current year.
Upland Software 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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