Upland Software (NASDAQ:UPLD) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Upland Software, Inc. (NASDAQ:UPLD) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.42 and traded as low as $4.16. Upland Software shares last traded at $4.35, with a volume of 28,578 shares trading hands.

Wall Street Analysts Forecast Growth

UPLD has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of Upland Software in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upland Software in a research note on Monday, June 29th. Finally, Canaccord Genuity Group set a $15.00 price target on shares of Upland Software in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Upland Software presently has an average rating of “Hold” and an average price target of $12.50.

Upland Software Stock Up 1.0%

The stock’s 50 day moving average is $4.74 and its two-hundred day moving average is $6.37. The company has a market capitalization of $12.28 million, a PE ratio of -0.29 and a beta of 1.43.

Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Friday, August 14th. The software maker reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.27. Upland Software had a negative net margin of 18.50% and a negative return on equity of 46.06%. The business had revenue of $49.14 million for the quarter, compared to analysts’ expectations of $48.61 million.

Hedge Funds Weigh In On Upland Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in shares of Upland Software by 10.8% during the third quarter. Ameriprise Financial Inc. now owns 1,320,696 shares of the software maker’s stock worth $3,130,000 after buying an additional 128,200 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Upland Software by 9.0% in the 1st quarter. Rice Hall James & Associates LLC now owns 974,448 shares of the software maker’s stock valued at $649,000 after acquiring an additional 80,751 shares during the period. Marshall Wace LLP boosted its position in shares of Upland Software by 5.3% during the 4th quarter. Marshall Wace LLP now owns 472,503 shares of the software maker’s stock worth $676,000 after purchasing an additional 23,855 shares during the period. Two Sigma Investments LP increased its holdings in Upland Software by 35.4% in the 3rd quarter. Two Sigma Investments LP now owns 352,699 shares of the software maker’s stock valued at $836,000 after purchasing an additional 92,266 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Upland Software by 41.0% in the fourth quarter. Russell Investments Group Ltd. now owns 262,389 shares of the software maker’s stock valued at $375,000 after purchasing an additional 76,341 shares during the period. 77.78% of the stock is owned by hedge funds and other institutional investors.

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.