SummitTX Capital L.P. Buys New Stake in UiPath, Inc. $PATH

SummitTX Capital L.P. purchased a new position in shares of UiPath, Inc. (NYSE:PATH) during the 1st quarter, Holdings Channel.com reports. The firm purchased 175,465 shares of the company’s stock, valued at approximately $1,948,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DNB Asset Management AS boosted its holdings in shares of UiPath by 266.4% in the fourth quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock valued at $9,273,000 after acquiring an additional 411,395 shares during the period. State of Michigan Retirement System purchased a new position in shares of UiPath during the first quarter worth approximately $1,143,000. Burney Co. acquired a new position in shares of UiPath in the 4th quarter valued at $2,285,000. Vanguard Group Inc. increased its holdings in shares of UiPath by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock valued at $804,994,000 after acquiring an additional 1,219,057 shares during the period. Finally, Pier Capital LLC raised its position in UiPath by 95.4% in the 4th quarter. Pier Capital LLC now owns 251,245 shares of the company’s stock valued at $4,118,000 after purchasing an additional 122,671 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PATH has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of UiPath in a research report on Friday, May 29th. Bank of America lifted their price objective on shares of UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UiPath in a report on Friday, July 10th. Finally, Morgan Stanley decreased their target price on shares of UiPath from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and a consensus price target of $13.80.

UiPath Trading Up 4.9%

NYSE:PATH opened at $12.19 on Wednesday. The firm has a market cap of $6.32 billion, a P/E ratio of 20.32, a PEG ratio of 1.39 and a beta of 0.98. The stock’s 50 day simple moving average is $11.20 and its 200-day simple moving average is $11.56. UiPath, Inc. has a 12-month low of $9.20 and a 12-month high of $19.84.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The business had revenue of $418.38 million during the quarter, compared to analysts’ expectations of $397.54 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Research analysts forecast that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.