State of Michigan Retirement System Acquires New Shares in UiPath, Inc. $PATH

Key Points

• State of Michigan Retirement System opened a new position in UiPath during the first quarter, buying 103,000 shares valued at about $1.14 million.
• Institutional interest in UiPath remains broad, with hedge funds and other investors holding 62.5% of the company’s stock.
• Analysts are cautious on PATH: the consensus rating is Hold with a target price of $13.80, while recent price targets were trimmed by UBS, DA Davidson, and BMO Capital Markets.

State of Michigan Retirement System acquired a new position in UiPath, Inc. (NYSE:PATH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 103,000 shares of the company's stock, valued at approximately $1,143,000.

A number of other hedge funds have also bought and sold shares of the business. HighMark Wealth Management LLC purchased a new stake in shares of UiPath during the 4th quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new position in shares of UiPath during the fourth quarter valued at approximately $26,000. TD Waterhouse Canada Inc. lifted its position in UiPath by 1,270.8% during 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 period. Atlas Capital Advisors Inc. bought a new position in UiPath during the fourth quarter valued at approximately $37,000. Finally, AdvisorNet Financial Inc boosted 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 during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PATH shares. UBS Group cut 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. Weiss Ratings restated a "hold (c-)" rating on shares of UiPath in a research note on Friday, July 10th. DA Davidson cut their price objective on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Friday, May 29th. Wall Street Zen lowered UiPath from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Finally, BMO Capital Markets reduced their price objective on UiPath from $14.00 to $13.00 and set a "market perform" rating for the company in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, UiPath presently has a consensus rating of "Hold" and a consensus target price of $13.80.

UiPath Stock Down 0.1%

PATH stock opened at $12.14 on Monday. The business's 50-day moving average price is $11.04 and its 200-day moving average price is $11.82. The stock has a market cap of $6.29 billion, a P/E ratio of 20.23, a PEG ratio of 1.46 and a beta of 0.98. UiPath, Inc. has a twelve month low of $9.20 and a twelve month high of $19.84.

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

UiPath 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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