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

Upland Software, Inc. (NASDAQ:UPLD) was the target of a large drop in short interest in 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 company’s stock are short sold. Based on an average daily volume of 50,705 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Upland Software

A number of hedge funds and other institutional investors have recently bought and sold shares of UPLD. NewEdge Advisors LLC grew its holdings in Upland Software by 697.1% in 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 stake in shares of Upland Software in the 3rd quarter worth $32,000. Dynamic Technology Lab Private Ltd purchased a new position in Upland Software during the 3rd quarter worth $34,000. Centiva Capital LP purchased a new position in Upland Software during the 3rd quarter worth $52,000. Finally, XTX Topco Ltd increased 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 valued at $56,000 after buying an additional 11,187 shares in the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Upland Software Stock Up 2.5%

Shares of NASDAQ UPLD traded up $0.12 during mid-day trading on Friday, reaching $4.97. 13,600 shares of the company were exchanged, compared to its average volume of 34,169. Upland Software has a 1 year low of $4.00 and a 1 year high of $39.10. The firm has a 50-day moving average of $6.76 and a 200 day moving average of $8.86. The stock has a market cap of $14.61 million, a price-to-earnings ratio of -0.71 and a beta of 1.43.

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

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.