Short Interest in Upland Software, Inc. (NASDAQ:UPLD) Declines By 26.9%

Upland Software, Inc. (NASDAQ:UPLD) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 237,500 shares, a decline of 26.9% from the September 15th total of 325,100 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 153,500 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

UPLD has been the topic of several research reports. StockNews.com raised Upland Software from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upland Software in a research report on Friday, August 2nd. Finally, Roth Capital raised Upland Software from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Insider Activity at Upland Software

In other Upland Software news, CEO John T. Mcdonald purchased 33,635 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $1.98 per share, with a total value of $66,597.30. Following the completion of the transaction, the chief executive officer now owns 297,373 shares of the company’s stock, valued at approximately $588,798.54. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.30% of the stock is owned by insiders.

Institutional Trading of Upland Software

Several hedge funds have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System acquired a new stake in shares of Upland Software during the 1st quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Upland Software during the 1st quarter worth approximately $37,000. Mackenzie Financial Corp grew its holdings in shares of Upland Software by 74.6% during the 2nd quarter. Mackenzie Financial Corp now owns 30,191 shares of the software maker’s stock worth $75,000 after purchasing an additional 12,898 shares in the last quarter. Heron Bay Capital Management acquired a new stake in shares of Upland Software during the 2nd quarter worth approximately $185,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Upland Software by 4.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 150,219 shares of the software maker’s stock worth $374,000 after purchasing an additional 6,018 shares in the last quarter. Institutional investors own 77.78% of the company’s stock.

Upland Software Stock Down 2.4 %

Shares of UPLD traded down $0.06 during trading hours on Friday, hitting $2.42. 43,668 shares of the company were exchanged, compared to its average volume of 127,447. The company has a market cap of $65.99 million, a PE ratio of -0.51 and a beta of 1.13. The firm’s 50 day moving average is $2.28 and its 200-day moving average is $2.48. Upland Software has a 52 week low of $1.79 and a 52 week high of $5.28. The company has a debt-to-equity ratio of 72.71, a quick ratio of 2.37 and a current ratio of 2.37.

Upland Software (NASDAQ:UPLD) last announced its earnings results on Thursday, August 1st. The software maker reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.14). Upland Software had a negative net margin of 46.18% and a positive return on equity of 19.98%. The business had revenue of $69.34 million for the quarter, compared to the consensus estimate of $67.91 million. During the same quarter in the previous year, the company earned $0.04 EPS. On average, equities research analysts forecast that Upland Software will post 0.22 EPS for the current fiscal year.

Upland Software Company Profile

Upland Software, Inc, together with its subsidiaries, provides cloud-based software applications under the Upland brand name in the United States, the United Kingdom, Canada, and internationally. It offers software applications that enable organizations to plan, manage and execute projects, and work in the areas of marketing, sales, contact center, knowledge management, project management, information technology, business operations, human resources, and legal.