Convergence Investment Partners LLC Makes New $4.40 Million Investment in UiPath, Inc. $PATH

Key Points

• Convergence Investment Partners LLC initiated a new position in UiPath during the first quarter, buying 396,363 shares worth about $4.4 million. The stake represented roughly 0.08% of the company.
• UiPath’s latest quarterly results showed EPS of $0.15, matching estimates, while revenue rose 17.3% year over year to $418.38 million, topping analyst expectations. The company also posted a net margin of 19.58%.
• Analysts are mostly cautious on PATH, with a consensus rating of “Hold” and an average price target of $13.80. Shares were up slightly to $12.18 in Tuesday trading, still below the stock’s 52-week high of $19.84.

Convergence Investment Partners LLC bought a new stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 396,363 shares of the company's stock, valued at approximately $4,400,000. Convergence Investment Partners LLC owned approximately 0.08% of UiPath at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PATH. HighMark Wealth Management LLC purchased a new stake in shares of UiPath during the 4th quarter worth $25,000. Raleigh Capital Management Inc. bought a new stake in UiPath during the fourth quarter valued at about $26,000. TD Waterhouse Canada Inc. grew its stake in UiPath by 1,270.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company's stock valued at $29,000 after purchasing an additional 1,652 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in UiPath in the fourth quarter valued at about $37,000. Finally, AdvisorNet Financial Inc raised its holdings in UiPath by 750.0% in the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company's stock worth $38,000 after purchasing an additional 3,000 shares in the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Stock Up 0.2%

Shares of UiPath stock opened at $12.18 on Tuesday. The company has a 50 day moving average price of $11.07 and a 200 day moving average price of $11.78. The firm has a market capitalization of $6.31 billion, a P/E ratio of 20.29, a PEG ratio of 1.46 and a beta of 0.98. UiPath, Inc. has a 52 week low of $9.20 and a 52 week high of $19.84.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. The business had revenue of $418.38 million for the quarter, compared to analyst estimates of $397.54 million. UiPath had a net margin of 19.58% and a return on equity of 7.92%. UiPath's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, research analysts anticipate that UiPath, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

PATH has been the subject of several analyst reports. New Street Research set a $13.00 price target on shares of UiPath in a research report on Monday, June 1st. Morgan Stanley cut their price objective on shares of UiPath from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, May 29th. BMO Capital Markets reduced their price objective on shares of UiPath from $14.00 to $13.00 and set a "market perform" rating for the company in a research note on Monday, June 1st. UBS Group decreased their target price on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of UiPath in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, UiPath has an average rating of "Hold" and a consensus price target of $13.80.

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.

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