Fifth Third Bancorp Takes Position in UiPath, Inc. $PATH

Key Points

• Fifth Third Bancorp initiated a new position in UiPath during the first quarter, buying 100,950 shares valued at about $1.12 million.
• Institutional ownership remains high, with large investors like Vanguard, State Street, AQR, Morgan Stanley, and Geode all increasing their stakes; institutions now own 62.5% of UiPath.
• Analyst sentiment is mixed but cautious: UiPath has a consensus Hold rating and an average price target of $13.80, while the stock recently traded at $10.85 after posting revenue growth of 17.3% year over year.

Fifth Third Bancorp purchased a new stake in shares of UiPath, Inc. (NYSE:PATH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 100,950 shares of the company's stock, valued at approximately $1,121,000.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in UiPath by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company's stock valued at $804,994,000 after buying an additional 1,219,057 shares during the period. State Street Corp increased its stake in shares of UiPath by 66.4% during the fourth quarter. State Street Corp now owns 13,004,786 shares of the company's stock valued at $213,148,000 after purchasing an additional 5,189,438 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of UiPath by 76.0% during the second quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company's stock valued at $145,732,000 after purchasing an additional 4,926,341 shares in the last quarter. Morgan Stanley lifted its holdings in shares of UiPath by 54.0% during the fourth quarter. Morgan Stanley now owns 9,310,304 shares of the company's stock valued at $152,596,000 after purchasing an additional 3,262,930 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in UiPath by 25.6% during the 4th quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company's stock valued at $122,951,000 after buying an additional 1,528,454 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price target on shares of UiPath in a research report on Friday, May 29th. Wall Street Zen downgraded shares of UiPath from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. DA Davidson reduced their price objective on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, May 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. Finally, Bank of America upped their target price on shares of UiPath from $12.00 to $13.00 and gave the stock an "underperform" rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned 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.

UiPath Stock Performance

NYSE PATH opened at $10.85 on Friday. UiPath, Inc. has a one year low of $9.20 and a one year high of $19.84. The stock has a 50-day moving average of $11.15 and a 200 day moving average of $11.67. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.30 and a beta of 0.98.

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

UiPath Company Profile

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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