State of Michigan Retirement System Takes Position in UiPath, Inc. $PATH

State of Michigan Retirement System acquired a new position in UiPath, Inc. (NYSE:PATH) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 103,000 shares of the company’s stock, valued at approximately $1,143,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in UiPath by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock valued at $804,994,000 after purchasing an additional 1,219,057 shares during the period. State Street Corp boosted its stake in UiPath by 66.4% in the 4th quarter. State Street Corp now owns 13,004,786 shares of the company’s stock worth $213,148,000 after purchasing an additional 5,189,438 shares during the period. AQR Capital Management LLC grew its holdings in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after buying an additional 4,926,341 shares in the last quarter. Morgan Stanley grew its holdings in UiPath by 54.0% during the 4th quarter. Morgan Stanley now owns 9,310,304 shares of the company’s stock valued at $152,596,000 after buying an additional 3,262,930 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of UiPath by 25.6% during the fourth quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company’s stock valued at $122,951,000 after buying an additional 1,528,454 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PATH. Wall Street Zen downgraded shares of UiPath from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley cut 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of UiPath in a report on Friday, July 10th. BMO Capital Markets decreased their price target on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Monday, June 1st. Finally, Bank of America increased their price objective on shares of UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a report on Friday, May 29th. Two equities 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. According to MarketBeat.com, UiPath has an average rating of “Hold” and a consensus target price of $13.80.

UiPath Trading Down 0.1%

Shares of NYSE PATH opened at $12.14 on Monday. UiPath, Inc. has a 12-month low of $9.20 and a 12-month high of $19.84. The firm’s 50-day moving average price is $11.04 and its 200-day moving average price is $11.82. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 1.46 and a beta of 0.98.

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 company had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million. During the same quarter last year, the business posted $0.11 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts predict that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

About UiPath

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.