Upland Software (NASDAQ:UPLD) released its earnings results on Thursday. The software maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.21, Briefing.com reports. Upland Software had a positive return on equity of 19.31% and a negative net margin of 12.92%. The firm had revenue of $37.10 million during the quarter, compared to analysts’ expectations of $36.56 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 42.1% on a year-over-year basis. Upland Software updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of NASDAQ:UPLD traded down $0.09 during trading on Friday, hitting $32.00. 241,900 shares of the company were exchanged, compared to its average volume of 215,454. The company has a market capitalization of $654.28 million, a PE ratio of 38.55, a price-to-earnings-growth ratio of 1.85 and a beta of 0.51. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.65 and a current ratio of 0.65. Upland Software has a 1-year low of $18.52 and a 1-year high of $38.30.
UPLD has been the subject of several recent analyst reports. BidaskClub cut Upland Software from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Canaccord Genuity restated a “buy” rating and set a $40.00 target price on shares of Upland Software in a research note on Wednesday, October 3rd. ValuEngine upgraded Upland Software from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Needham & Company LLC upped their price target on shares of Upland Software from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Roth Capital upgraded shares of Upland Software from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $26.00 to $11.50 in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $34.64.
In other news, insider Epm Live, Inc. sold 55,101 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $36.32, for a total transaction of $2,001,268.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John T. Mcdonald sold 26,390 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $36.03, for a total value of $950,831.70. Following the completion of the sale, the chief executive officer now owns 1,700,144 shares of the company’s stock, valued at $61,256,188.32. The disclosure for this sale can be found here. Insiders have sold 1,103,506 shares of company stock valued at $38,662,182 over the last quarter. Company insiders own 14.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UPLD. BlackRock Inc. increased its holdings in Upland Software by 164.3% in the second quarter. BlackRock Inc. now owns 1,022,552 shares of the software maker’s stock valued at $35,145,000 after purchasing an additional 635,712 shares during the period. Mesirow Financial Investment Management Equity Management acquired a new stake in Upland Software in the third quarter valued at $11,403,000. Assenagon Asset Management S.A. increased its holdings in Upland Software by 901.3% in the third quarter. Assenagon Asset Management S.A. now owns 158,476 shares of the software maker’s stock valued at $5,120,000 after purchasing an additional 142,649 shares during the period. Castleark Management LLC increased its holdings in Upland Software by 123.8% in the second quarter. Castleark Management LLC now owns 247,514 shares of the software maker’s stock valued at $8,507,000 after purchasing an additional 136,909 shares during the period. Finally, Portolan Capital Management LLC increased its holdings in Upland Software by 68.9% in the second quarter. Portolan Capital Management LLC now owns 231,389 shares of the software maker’s stock valued at $7,953,000 after purchasing an additional 94,412 shares during the period. Institutional investors and hedge funds own 53.81% of the company’s stock.
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About Upland Software
Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.
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