Upland Software (NASDAQ:UPLD) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Upland Software (NASDAQ:UPLD) announced its earnings results on Thursday. The software maker reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.27, FiscalAI reports. Upland Software had a negative return on equity of 51.46% and a negative net margin of 7.08%.The business had revenue of $49.14 million for the quarter, compared to analyst estimates of $48.61 million.

Upland Software Stock Down 12.3%

Shares of NASDAQ UPLD opened at $5.35 on Friday. The stock’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $7.12. Upland Software has a 52-week low of $4.00 and a 52-week high of $39.10. The stock has a market capitalization of $15.73 million, a P/E ratio of -0.76 and a beta of 1.44.

Wall Street Analyst Weigh In

UPLD has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Upland Software in a research note on Monday, June 29th. Canaccord Genuity Group set a $15.00 price objective on shares of Upland Software in a research note on Thursday, July 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Upland Software in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Upland Software has an average rating of “Hold” and an average price target of $12.50.

Institutional Investors Weigh In On Upland Software

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Upland Software by 486.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 186,048 shares of the software maker’s stock valued at $441,000 after acquiring an additional 154,298 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Upland Software by 10.8% in the third quarter. Ameriprise Financial Inc. now owns 1,320,696 shares of the software maker’s stock worth $3,130,000 after purchasing an additional 128,200 shares during the period. Two Sigma Investments LP boosted its holdings in Upland Software by 35.4% in the third quarter. Two Sigma Investments LP now owns 352,699 shares of the software maker’s stock worth $836,000 after purchasing an additional 92,266 shares during the period. Victory Capital Management Inc. acquired a new position in Upland Software in the third quarter worth $213,000. Finally, Evergreen Capital Management LLC bought a new stake in Upland Software during the second quarter valued at $122,000. 77.78% of the stock is currently owned by institutional investors.

Upland Software Company Profile

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.