September saw a sharp decline in short-term interest in Upland Software, Inc. (NASDAQ: UPLD). As of September 30, 1,140,000 shares were sold short, down 33.7% from 1,720,000 shares as of September 15. Currently, 4.2% of the shares are sold short. The day-to-cover ratio is currently 2.8, based on the average daily 412,200 shares traded.

Hedge fund equity holdings have recently changed. Federated Hermes Inc. increased its stake in Upland Software during the second quarter by 173.7%. Federated Hermes Inc. currently owns 847,195 shares of the software maker valued at $12,301,000. This follows the previous period, when an additional 537,658 shares were purchased. Vanguard Group Inc. increased its stake in Upland Software by 34.3% during the first quarter. Over the past three months, Vanguard Group Inc. has increased its holdings of the software maker’s stock by 517,293 shares, bringing its total to 2,025,310 shares, worth $35,666,000. Needham Investment Management LLC increased its stake in Upland Software by 521.4% during the second quarter. Needham Investment Management LLC now owns 435,000 shares of the software maker worth $6,360,000 after acquiring an additional 365,000 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its stake in Upland Software by 132.6% during the first quarter. After acquiring an additional 306,645 shares in the last quarter, Hodges Capital Management Inc. now owns 537,889 shares of the company with a market capitalization of $9,472,000. Not to mention that G2 Investment Partners Management LLC increased its stake in Upland Software by 322.6% during the first quarter. G2 Investment Partners Management LLC increased its stock holdings by 264,492 shares over the past three months, for a total increase of $6,102,000 in value. Institutional and hedge fund investors collectively own 75.17% of the shares.
Insider Ian Burk sold 16,748 shares of the company on Tuesday, August 9. The shares were sold at an average price of $11.21 for a total price of $187,745.08. Following the transaction, the insider now owns 72,081 shares of the company worth $808,028.01. You can access the SEC filing where the sale was made public by clicking this link. Additionally, on August 9, insider Ian Burk sold 16,748 shares of Upland Software. The shares were sold at an average price of $11.21 for a total price of $187,745.08. Following the transaction, the insider now owns 72,081 shares of the company worth $808,028.01. You can obtain a file containing transaction information provided to the Securities & Exchange Commission by clicking this link. John T. McDonald, CEO of the company, also purchased an additional 10,000 shares on August 15. The stock was acquired at an average price of $11.22 per share for a total transaction value of $112,200.00. As a result of the transaction, the CEO now directly owns 183,738 shares, valued at $2,061,540.36. The disclosure of this transaction can be read here.
Insiders spent $662,300 on 60,000 shares of the company in the last quarter. According to the most recent studies on UPLD, insiders currently own 7.70% of the shares of the company. In a research report released Friday, July 15, Truist Financial lowered its price target on Upland Software shares from $30.00 to $20.00 in a research report. In a research note published Wednesday, StockNews.com announced the start of Upland Software stock coverage. They rated the stock as a “buy”. In a research report published on August 4, Craig Hallum lowered his price target on Upland Software shares from $22.00 to $13.00 in a research report. Raymond James maintained an “outperform” rating on Upland Software stock on Thursday, August 4, but lowered his price target from $24.00 to $17.00.
Finally, Canaccord Genuity Group lowered Upland Software’s stock price target from $24.00 to $19.00 in a research report released Friday, August 5. Five research experts urged investors to buy the company’s shares, compared to just two who recommended holding the stock. The company has an average rating of “Moderate Buy” and a target price of $21.63, according to information from Bloomberg.com.

Upland Software shares began trading at $7.33 on Friday. The company has a market value of $229.58 million, a P/E ratio of -3.96 and a beta of 0.80. Upland Software has a 52-week low price of $6.95 and a 52-week high price of $34.69. The company’s debt ratio, quick ratio and current ratio are all 1.21. The company’s 50-day moving average is $9.72 and its 200-day moving average is $12.67.
Upland Software (NASDAQ: UPLD) released its latest quarterly earnings report on Wednesday, August 3. The software company reported earnings per share of $0.10 for the quarter, which was $0.02 below the consensus expectation of $0.12. Additionally, the company’s quarterly sales were $80.23 million, versus analyst forecasts of $79.41 million. Upland Software recorded a negative net margin of 18.57% and a positive return on equity of 6.95%. For the current fiscal year, research experts believe Upland Software will have EPS of $0.33.