Upland Software, Inc. (NASDAQ:UPLD) Sees Large Drop in Short Interest

Upland Software, Inc. (NASDAQ:UPLD) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 98,413 shares, a decline of 73.7% from the June 15th total of 373,706 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily volume of 50,705 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in shares of Upland Software during the third quarter valued at $32,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Upland Software in the 3rd quarter worth about $34,000. NewEdge Advisors LLC increased its position in shares of Upland Software by 697.1% during the 1st 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 in the last quarter. Centiva Capital LP acquired a new stake in shares of Upland Software during the 3rd quarter worth about $52,000. Finally, XTX Topco Ltd bought a new position in Upland Software during the 4th quarter valued at about $56,000. 77.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upland Software in a research report on Monday, June 29th. Canaccord Genuity Group set a $15.00 price target on shares of Upland Software in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Upland Software currently has an average rating of “Moderate Buy” and an average target price of $31.67.

Upland Software Stock Up 0.6%

Shares of UPLD opened at $5.00 on Tuesday. The company has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $8.79. The stock has a market cap of $14.70 million, a price-to-earnings ratio of -0.71 and a beta of 1.43. Upland Software has a 12 month low of $4.00 and a 12 month high of $39.10.

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

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.