Cadence Capital Management LLC Sells 64,121 Shares of Upland Software Inc (UPLD)

Cadence Capital Management LLC reduced its holdings in shares of Upland Software Inc (NASDAQ:UPLD) by 51.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 60,877 shares of the software maker’s stock after selling 64,121 shares during the period. Cadence Capital Management LLC’s holdings in Upland Software were worth $2,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UPLD. Van Hulzen Asset Management LLC purchased a new position in Upland Software during the 1st quarter valued at about $222,000. Rice Hall James & Associates LLC purchased a new position in Upland Software during the 1st quarter valued at about $944,000. BNP Paribas Arbitrage SA increased its holdings in Upland Software by 109,133.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,277 shares of the software maker’s stock valued at $139,000 after acquiring an additional 3,274 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Upland Software during the 1st quarter valued at about $267,000. Finally, Avalon Advisors LLC increased its holdings in Upland Software by 3.0% during the 1st quarter. Avalon Advisors LLC now owns 114,519 shares of the software maker’s stock valued at $4,851,000 after acquiring an additional 3,331 shares in the last quarter. 68.38% of the stock is currently owned by hedge funds and other institutional investors.

In other Upland Software news, CFO Michael Douglass Hill sold 41,431 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $41.31, for a total transaction of $1,711,514.61. Following the sale, the chief financial officer now directly owns 304,435 shares of the company’s stock, valued at approximately $12,576,209.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy Mattox sold 28,196 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $40.27, for a total transaction of $1,135,452.92. Following the sale, the chief operating officer now directly owns 509,230 shares in the company, valued at $20,506,692.10. The disclosure for this sale can be found here. Insiders have sold a total of 82,431 shares of company stock worth $3,359,128 over the last ninety days. 11.60% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on UPLD shares. Roth Capital raised their target price on shares of Upland Software from $43.00 to $54.00 and gave the company a “buy” rating in a report on Friday, March 8th. BidaskClub upgraded shares of Upland Software from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Craig Hallum restated a “buy” rating and set a $48.00 target price on shares of Upland Software in a report on Friday, March 8th. Needham & Company LLC raised their target price on shares of Upland Software from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 8th. Finally, ValuEngine upgraded shares of Upland Software from a “hold” rating to a “buy” rating in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $48.43.

Upland Software stock opened at $48.97 on Friday. Upland Software Inc has a 12-month low of $25.12 and a 12-month high of $50.64. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 41.50, a PEG ratio of 1.88 and a beta of 0.69. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.57 and a current ratio of 0.57.

Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Thursday, May 2nd. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.20. Upland Software had a negative net margin of 8.77% and a positive return on equity of 27.01%. The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $48.39 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, equities research analysts expect that Upland Software Inc will post 1.26 EPS for the current fiscal year.

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About Upland Software

Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.

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Institutional Ownership by Quarter for Upland Software (NASDAQ:UPLD)

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