Short Interest in Upland Software, Inc. (NASDAQ:UPLD) Declines By 19.5%

Upland Software, Inc. (NASDAQ:UPLD) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 176,200 shares, a drop of 19.5% from the October 31st total of 218,900 shares. Based on an average trading volume of 182,900 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Trading of Upland Software

Institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System purchased a new position in shares of Upland Software in the 1st quarter valued at about $34,000. Assenagon Asset Management S.A. raised its holdings in Upland Software by 4.2% during the second 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 during the last quarter. Rice Hall James & Associates LLC boosted its position in Upland Software by 3.7% during the second quarter. Rice Hall James & Associates LLC now owns 273,575 shares of the software maker’s stock worth $681,000 after purchasing an additional 9,755 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Upland Software by 180.6% in the second quarter. Renaissance Technologies LLC now owns 288,408 shares of the software maker’s stock valued at $718,000 after purchasing an additional 185,617 shares during the last quarter. Finally, Heron Bay Capital Management purchased a new position in shares of Upland Software in the second quarter valued at $185,000. 77.78% of the stock is currently owned by hedge funds and other institutional investors.

Upland Software Trading Down 0.5 %

Shares of UPLD stock traded down $0.02 on Friday, hitting $3.67. 405,058 shares of the stock traded hands, compared to its average volume of 318,266. Upland Software has a twelve month low of $1.79 and a twelve month high of $5.05. The stock has a market capitalization of $100.70 million, a PE ratio of -0.81 and a beta of 1.14. The company has a debt-to-equity ratio of 324.05, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day moving average price is $2.64 and its two-hundred day moving average price is $2.50.

Wall Street Analyst Weigh In

A number of equities analysts have commented on UPLD shares. StockNews.com raised Upland Software from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Roth Capital raised shares of Upland Software from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Upland Software in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3.75.

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.