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

Upland Software, Inc. (NASDAQ:UPLD) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 476,700 shares, a drop of 34.6% from the February 28th total of 728,400 shares. Based on an average trading volume of 244,100 shares, the short-interest ratio is presently 2.0 days. Currently, 2.3% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com downgraded Upland Software from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC reissued a “hold” rating on shares of Upland Software in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.75.

Insider Activity at Upland Software

In other news, Director Timothy Mattox sold 20,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $3.19, for a total value of $63,800.00. Following the transaction, the director now owns 394,008 shares in the company, valued at $1,256,885.52. This represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legato Capital Management LLC bought a new stake in shares of Upland Software in the 4th quarter worth about $44,000. Dynamic Technology Lab Private Ltd purchased a new stake in Upland Software during the third quarter valued at approximately $31,000. WESPAC Advisors LLC bought a new stake in shares of Upland Software in the 4th quarter valued at approximately $55,000. Essential Planning LLC. purchased a new position in shares of Upland Software in the 4th quarter worth approximately $56,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Upland Software during the 4th quarter valued at approximately $58,000. 77.78% of the stock is currently owned by institutional investors.

Upland Software Trading Down 3.2 %

Shares of UPLD stock opened at $3.02 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 324.05. The stock has a market capitalization of $85.07 million, a price-to-earnings ratio of -0.67 and a beta of 1.40. Upland Software has a 12-month low of $1.79 and a 12-month high of $5.64. The stock’s 50-day moving average price is $3.72 and its 200-day moving average price is $3.43.

About Upland Software

Upland Software, Inc, together with its subsidiaries, provides cloud-based software applications under the Upland brand name in the United States, the United Kingdom, Canada, and internationally. It offers software applications that enable organizations to plan, manage and execute projects, and work in the areas of marketing, sales, contact center, knowledge management, project management, information technology, business operations, human resources, and legal.