272 Capital LP Cuts Holdings in Upland Software, Inc. (NASDAQ:UPLD)

272 Capital LP lowered its stake in shares of Upland Software, Inc. (NASDAQ:UPLD) by 51.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 738,421 shares of the software maker’s stock after selling 787,362 shares during the quarter. 272 Capital LP owned 2.71% of Upland Software worth $1,839,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in UPLD. Jump Financial LLC increased its stake in Upland Software by 494.4% in the fourth quarter. Jump Financial LLC now owns 64,200 shares of the software maker’s stock valued at $272,000 after acquiring an additional 53,400 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Upland Software during the 1st quarter valued at about $34,000. Assenagon Asset Management S.A. raised its holdings in shares of Upland Software by 4.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 150,219 shares of the software maker’s stock valued at $374,000 after buying an additional 6,018 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Upland Software in the 1st quarter worth approximately $37,000. Finally, Heron Bay Capital Management purchased a new stake in Upland Software in the second quarter worth approximately $185,000. 77.78% of the stock is owned by institutional investors.

Insider Activity at Upland Software

In related news, CEO John T. Mcdonald acquired 33,635 shares of Upland Software stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $1.98 per share, with a total value of $66,597.30. Following the transaction, the chief executive officer now owns 297,373 shares in the company, valued at $588,798.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 11.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UPLD has been the subject of a number of recent research reports. Roth Capital upgraded shares of Upland Software from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Upland Software in a research note on Friday, August 2nd. Finally, StockNews.com raised Upland Software from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.75.

Upland Software Stock Up 1.2 %

Shares of Upland Software stock opened at $2.60 on Tuesday. The stock has a market capitalization of $71.74 million, a price-to-earnings ratio of -0.55 and a beta of 1.12. The company’s 50 day moving average price is $2.25 and its 200-day moving average price is $2.49. The company has a debt-to-equity ratio of 72.71, a quick ratio of 2.37 and a current ratio of 2.37. Upland Software, Inc. has a 52-week low of $1.79 and a 52-week high of $5.28.

Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.14). The business had revenue of $69.34 million for the quarter, compared to the consensus estimate of $67.91 million. Upland Software had a negative net margin of 46.18% and a positive return on equity of 19.98%. During the same period in the previous year, the company earned $0.04 EPS. Equities research analysts forecast that Upland Software, Inc. will post 0.22 EPS for the current year.

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.