Everence Capital Management Inc. Makes New Investment in UiPath Inc. (NYSE:PATH)

Everence Capital Management Inc. acquired a new stake in UiPath Inc. (NYSE:PATH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,940 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also modified their holdings of PATH. Commonwealth Equity Services LLC grew its holdings in UiPath by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 107,468 shares of the company’s stock valued at $1,363,000 after buying an additional 5,742 shares during the period. CIBC Asset Management Inc grew its holdings in UiPath by 30.6% in the second quarter. CIBC Asset Management Inc now owns 13,564 shares of the company’s stock valued at $172,000 after purchasing an additional 3,177 shares during the period. Rhumbline Advisers increased its position in UiPath by 2.6% during the second quarter. Rhumbline Advisers now owns 511,011 shares of the company’s stock worth $6,480,000 after purchasing an additional 12,836 shares during the last quarter. TD Asset Management Inc raised its stake in UiPath by 11.8% during the second quarter. TD Asset Management Inc now owns 32,200 shares of the company’s stock worth $408,000 after purchasing an additional 3,400 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of UiPath by 13.0% in the 2nd quarter. Arizona State Retirement System now owns 120,291 shares of the company’s stock valued at $1,525,000 after purchasing an additional 13,875 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total transaction of $616,784.62. Following the sale, the chief financial officer now owns 856,538 shares in the company, valued at $11,186,386.28. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

UiPath Stock Up 1.7 %

PATH stock opened at $13.43 on Thursday. The company has a market capitalization of $7.38 billion, a PE ratio of -83.94 and a beta of 0.96. The stock’s 50 day moving average is $13.53 and its two-hundred day moving average is $12.75. UiPath Inc. has a 52-week low of $10.37 and a 52-week high of $27.87.

Analysts Set New Price Targets

PATH has been the subject of a number of research analyst reports. UBS Group began coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Thursday, December 19th. BMO Capital Markets boosted their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Barclays increased their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $17.50.

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.