SummitTX Capital L.P. Purchases Shares of 175,465 UiPath, Inc. $PATH

Key Points

• SummitTX Capital purchased 175,465 UiPath shares in the first quarter, establishing a position valued at approximately $1.95 million. Institutional investors collectively own 62.5% of the company.
• Analysts remain cautious: 14 rate UiPath “Hold,” compared with two “Buy” and one “Sell” ratings. The consensus price target is $13.80, with several firms recently lowering their targets.
• UiPath’s latest quarterly results showed adjusted EPS of $0.15, in line with estimates, while revenue of $418.4 million exceeded forecasts and rose 17.3% year over year.

SummitTX Capital L.P. purchased a new position in UiPath, Inc. (NYSE:PATH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 175,465 shares of the company's stock, valued at approximately $1,948,000.

A number of other large investors have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its holdings in UiPath by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 37,871 shares of the company's stock valued at $621,000 after purchasing an additional 720 shares during the period. Meeder Advisory Services Inc. grew its stake in UiPath by 7.6% during 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 increased its holdings in 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 period. CoreCap Advisors LLC increased its holdings in 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 period. Finally, EverSource Wealth Advisors LLC raised its position in UiPath by 36.5% in the 4th 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. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PATH shares. DA Davidson decreased their price objective on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, May 29th. Morgan Stanley cut their target price on shares of UiPath from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Friday, May 29th. UBS Group reduced their target price on shares of UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, June 29th. New Street Research set a $13.00 price target on shares of UiPath in a research note on Monday, June 1st. Finally, BMO Capital Markets lowered their price target on shares of UiPath from $14.00 to $13.00 and set a "market perform" rating for the company in a report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $13.80.

UiPath Price Performance

Shares of NYSE PATH opened at $12.19 on Wednesday. The business has a 50-day moving average of $11.20 and a two-hundred day moving average of $11.56. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.39 and a beta of 0.98. 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 data on Thursday, May 28th. The company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The business had revenue of $418.38 million for the quarter, compared to the consensus estimate of $397.54 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business's revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities research analysts expect that UiPath, Inc. will post 0.4 earnings per share for the current 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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