Canaccord Genuity Group Trims Upland Software (NASDAQ:UPLD) Target Price to $5.00

Upland Software (NASDAQ:UPLD) had its target price decreased by equities research analysts at Canaccord Genuity Group from $7.00 to $5.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 93.05% from the company’s current price.

UPLD has been the subject of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Upland Software in a research report on Friday. StockNews.com lowered Upland Software from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, William Blair reissued an “outperform” rating on shares of Upland Software in a research report on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.13.

Upland Software Trading Up 28.2 %

NASDAQ:UPLD traded up $0.57 during mid-day trading on Friday, reaching $2.59. 20,268,560 shares of the company’s stock traded hands, compared to its average volume of 442,541. Upland Software has a 12-month low of $1.89 and a 12-month high of $5.28. The company has a 50 day moving average price of $2.59 and a 200-day moving average price of $3.70. The company has a debt-to-equity ratio of 3.75, a current ratio of 2.30 and a quick ratio of 2.30. The firm has a market capitalization of $72.16 million, a price-to-earnings ratio of -0.45 and a beta of 1.01.

Institutional Trading of Upland Software

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Riley Asset Management LLC grew its stake in shares of Upland Software by 1.6% in the 3rd quarter. B. Riley Asset Management LLC now owns 1,567,243 shares of the software maker’s stock worth $7,241,000 after buying an additional 25,000 shares during the last quarter. First Dallas Securities Inc. grew its stake in shares of Upland Software by 1,896.2% in the 3rd quarter. First Dallas Securities Inc. now owns 1,427,314 shares of the software maker’s stock worth $6,594,000 after buying an additional 1,355,814 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Upland Software by 3.4% in the 3rd quarter. Acadian Asset Management LLC now owns 1,331,381 shares of the software maker’s stock worth $6,150,000 after buying an additional 43,479 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Upland Software by 21.0% in the 4th quarter. First Eagle Investment Management LLC now owns 839,183 shares of the software maker’s stock worth $3,550,000 after buying an additional 145,405 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Upland Software by 13.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 580,043 shares of the software maker’s stock worth $2,680,000 after buying an additional 67,331 shares during the last quarter. Hedge funds and other institutional investors own 77.78% of the company’s stock.

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.