Upland Software, Inc. (NASDAQ:UPLD) Sees Significant Decrease in Short Interest

Upland Software, Inc. (NASDAQ:UPLD) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 98,413 shares, a drop of 73.7% from the June 15th total of 373,706 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily volume of 50,705 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of Upland Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of Upland Software by 697.1% during the first quarter. NewEdge Advisors LLC now owns 11,940 shares of the software maker’s stock worth $34,000 after purchasing an additional 10,442 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Upland Software during the third quarter valued at $32,000. Dynamic Technology Lab Private Ltd purchased a new stake in Upland Software in the third quarter valued at $34,000. Centiva Capital LP purchased a new stake in Upland Software in the third quarter valued at $52,000. Finally, XTX Topco Ltd grew its position in Upland Software by 63.5% during the 2nd quarter. XTX Topco Ltd now owns 28,797 shares of the software maker’s stock worth $56,000 after purchasing an additional 11,187 shares during the period. Institutional investors and hedge funds own 77.78% of the company’s stock.

Upland Software Stock Up 2.5%

Shares of NASDAQ:UPLD traded up $0.12 during trading on Friday, hitting $4.97. The stock had a trading volume of 13,600 shares, compared to its average volume of 34,169. Upland Software has a 12-month low of $4.00 and a 12-month high of $39.10. The stock has a market capitalization of $14.61 million, a price-to-earnings ratio of -0.71 and a beta of 1.43. The stock has a 50-day simple moving average of $6.76 and a two-hundred day simple moving average of $8.86.

Upland Software (NASDAQ:UPLD) last issued its earnings results on Friday, May 1st. The software maker reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.30. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The firm had revenue of $48.69 million for the quarter, compared to analyst estimates of $48.50 million.

Analysts Set New Price Targets

UPLD has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upland Software in a report on Monday, June 29th. Canaccord Genuity Group set a $15.00 price objective on shares of Upland Software in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Upland Software has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.

About Upland Software

Upland Software, Inc is a provider of enterprise work management software delivered through a cloud-based, software-as-a-service model. The company offers a suite of integrated applications designed to help organizations plan, execute and measure work across various business functions including project management, marketing workflows, document automation and contract management.

Its flagship product lines include Upland PSA for professional services automation, Upland Bluebeam for digital collaboration in architecture and engineering workflows, Upland Qvidian for proposal automation, and Upland Pinpoint for customer communication management.