Upland Software (NASDAQ:UPLD) Releases Earnings Results, Beats Estimates By $0.03 EPS

Upland Software (NASDAQ:UPLD) posted its earnings results on Friday. The software maker reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03, FiscalAI reports. Upland Software had a negative return on equity of 58.67% and a negative net margin of 17.94%.The company had revenue of $48.69 million for the quarter, compared to analyst estimates of $48.50 million.

Upland Software Trading Down 2.4%

Shares of UPLD traded down $0.01 on Friday, reaching $0.61. 776,341 shares of the company’s stock traded hands, compared to its average volume of 276,322. The stock has a market cap of $17.91 million, a PE ratio of -0.39 and a beta of 1.34. The stock’s 50 day simple moving average is $0.68 and its two-hundred day simple moving average is $1.31. Upland Software has a 52-week low of $0.50 and a 52-week high of $3.91.

Institutional Trading of Upland Software

A number of institutional investors and hedge funds have recently modified their holdings of UPLD. NewEdge Advisors LLC increased its position 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 valued at $34,000 after acquiring an additional 10,442 shares during the last quarter. XTX Topco Ltd increased its position in shares of Upland Software by 63.5% during the second quarter. XTX Topco Ltd now owns 28,797 shares of the software maker’s stock valued at $56,000 after acquiring an additional 11,187 shares during the last quarter. Russell Investments Group Ltd. increased its position in Upland Software by 2,534.9% in the second quarter. Russell Investments Group Ltd. now owns 31,750 shares of the software maker’s stock worth $62,000 after buying an additional 30,545 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Upland Software in the second quarter worth $122,000. Finally, Victory Capital Management Inc. purchased a new stake in Upland Software in the third quarter worth $213,000. 77.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their target price on Upland Software from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Upland Software in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Upland Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.67.

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.