Short Interest in Upland Software, Inc. (NASDAQ:UPLD) Declines By 73.7%

Upland Software, Inc. (NASDAQ:UPLD) was the recipient of a significant decline in short interest during 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. Currently, 3.9% of the shares of the stock are sold short. Based on an average trading volume of 50,705 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

UPLD has been the subject of several recent research reports. Canaccord Genuity Group set a $15.00 price objective on Upland Software in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upland Software in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Institutional Investors Weigh In On Upland Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings 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 during the period. XTX Topco Ltd raised its holdings in Upland Software by 63.5% in the 2nd quarter. XTX Topco Ltd now owns 28,797 shares of the software maker’s stock valued at $56,000 after buying an additional 11,187 shares during the period. Goldman Sachs Group Inc. raised its holdings in Upland Software by 15.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 103,825 shares of the software maker’s stock valued at $148,000 after buying an additional 13,585 shares during the period. Dimensional Fund Advisors LP acquired a new position in Upland Software in the third quarter valued at about $32,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Upland Software in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 77.78% of the company’s stock.

Upland Software Stock Up 0.6%

NASDAQ:UPLD traded up $0.03 on Monday, hitting $5.00. The stock had a trading volume of 20,967 shares, compared to its average volume of 30,406. The company has a fifty day moving average price of $6.74 and a two-hundred day moving average price of $8.79. Upland Software has a 1-year low of $4.00 and a 1-year high of $39.10. 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 (NASDAQ:UPLD) last announced its quarterly earnings results on Friday, May 1st. The software maker reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.30. Upland Software had a negative net margin of 7.08% and a negative return on equity of 51.46%. The business had revenue of $48.69 million during the quarter, compared to the consensus estimate of $48.50 million.

About Upland Software

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.