Upland Software (NASDAQ:UPLD) Cut to Hold at Wall Street Zen

Key Points

• Upland Software's stock rating has been downgraded from a "strong-buy" to a "hold" by Wall Street Zen.
• Additionally, Craig Hallum has raised the company's rating from "hold" to "buy" with a price target of $3.50.
• Institutional investors now hold 77.78% of Upland Software’s stock, indicating significant institutional interest.

Wall Street Zen lowered shares of Upland Software (NASDAQ:UPLD - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also weighed in on the stock. Craig Hallum upgraded shares of Upland Software from a "hold" rating to a "buy" rating and set a $3.50 price target on the stock in a research report on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Upland Software in a research note on Tuesday, May 13th.

Upland Software Stock Down 0.5%

Shares of NASDAQ UPLD traded down $0.01 during trading on Friday, hitting $1.99. The company had a trading volume of 121,849 shares, compared to its average volume of 171,406. The firm has a market capitalization of $57.25 million, a price-to-earnings ratio of -1.12 and a beta of 1.18. Upland Software has a fifty-two week low of $1.69 and a fifty-two week high of $5.64. The stock has a fifty day simple moving average of $1.94 and a two-hundred day simple moving average of $2.71.

Institutional Investors Weigh In On Upland Software

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. raised its stake in shares of Upland Software by 13.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,301,061 shares of the software maker's stock valued at $5,647,000 after acquiring an additional 154,667 shares during the period. Two Sigma Advisers LP increased its position in shares of Upland Software by 106.8% in the 4th quarter. Two Sigma Advisers LP now owns 406,400 shares of the software maker's stock valued at $1,764,000 after purchasing an additional 209,900 shares during the last quarter. Man Group plc increased its position in shares of Upland Software by 33.5% in the 4th quarter. Man Group plc now owns 398,800 shares of the software maker's stock valued at $1,731,000 after purchasing an additional 100,157 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Upland Software by 22.8% in the 4th quarter. Renaissance Technologies LLC now owns 358,808 shares of the software maker's stock valued at $1,557,000 after purchasing an additional 66,684 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Upland Software by 111.1% in the 4th quarter. Two Sigma Investments LP now owns 321,583 shares of the software maker's stock valued at $1,396,000 after purchasing an additional 169,240 shares during the last quarter. 77.78% of the stock is owned by hedge funds and other institutional investors.

Upland Software Company Profile

Upland Software, Inc, together with its subsidiaries, provides cloud-based software applications under the Upland brand name in the United States, the United Kingdom, Canada, and internationally. It offers software applications that enable organizations to plan, manage and execute projects, and work in the areas of marketing, sales, contact center, knowledge management, project management, information technology, business operations, human resources, and legal.