Glenmede Trust Co. NA Grows Position in UiPath, Inc. $PATH

Key Points

• Glenmede Trust increased its UiPath position by 35.7% in the first quarter, purchasing 249,969 additional shares for a total of 950,460 shares valued at approximately $10.55 million. Institutional investors collectively own 62.5% of PATH.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from 17 analysts and an average price target of $13.80. Recent target changes included Morgan Stanley lowering its target to $15 and Bank of America raising its target to $13 while maintaining an “underperform” rating.
• UiPath reported quarterly EPS of $0.15, in line with expectations, while revenue of $418.38 million exceeded estimates and rose 17.3% year over year. Shares opened at $12.80, with a market capitalization of about $6.63 billion.

Glenmede Trust Co. NA grew its holdings in UiPath, Inc. (NYSE:PATH - Free Report) by 35.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 950,460 shares of the company's stock after buying an additional 249,969 shares during the period. Glenmede Trust Co. NA owned 0.18% of UiPath worth $10,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in UiPath by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 37,871 shares of the company's stock valued at $621,000 after acquiring an additional 720 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in UiPath by 7.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 12,132 shares of the company's stock worth $199,000 after purchasing an additional 861 shares in the last quarter. Pasadena Private Wealth LLC boosted its holdings in shares of UiPath by 9.0% during the 1st quarter. Pasadena Private Wealth LLC now owns 12,750 shares of the company's stock worth $142,000 after purchasing an additional 1,050 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of UiPath by 92.3% during the 4th quarter. CoreCap Advisors LLC now owns 2,579 shares of the company's stock worth $42,000 after purchasing an additional 1,238 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of UiPath by 36.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company's stock valued at $81,000 after purchasing an additional 1,329 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PATH shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. Wall Street Zen lowered UiPath from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. Morgan Stanley lowered their price objective on UiPath from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. Bank of America upped their target price on UiPath from $12.00 to $13.00 and gave the company an "underperform" rating in a report on Friday, May 29th. Finally, New Street Research set a $13.00 target price on UiPath in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, UiPath currently has a consensus rating of "Hold" and a consensus target price of $13.80.

UiPath Price Performance

Shares of NYSE PATH opened at $12.80 on Monday. The company has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $11.47. The company has a market capitalization of $6.63 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.53 and a beta of 0.96. UiPath, Inc. has a 1 year low of $9.20 and a 1 year high of $19.84.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The firm 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%. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, research analysts expect that UiPath, Inc. will post 0.4 EPS for the current 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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