Upland Software (NASDAQ:UPLD) Price Target Lowered to $5.00 at Canaccord Genuity Group

Upland Software (NASDAQ:UPLD) had its price objective reduced by Canaccord Genuity Group from $7.00 to $5.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other research firms have also commented on UPLD. StockNews.com lowered shares of Upland Software from a buy rating to a hold rating in a research report on Friday, February 23rd. Needham & Company LLC reiterated a hold rating on shares of Upland Software in a research report on Friday. Finally, William Blair restated an outperform rating on shares of Upland Software in a research report on Friday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $4.13.

Upland Software Price Performance

NASDAQ:UPLD traded up $0.57 during trading hours on Friday, reaching $2.59. The company had a trading volume of 20,311,473 shares, compared to its average volume of 142,849. Upland Software has a 1-year low of $1.89 and a 1-year high of $5.28. The business’s 50 day moving average price is $2.59 and its 200-day moving average price is $3.70. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 3.75.

Hedge Funds Weigh In On Upland Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in shares of Upland Software in the 3rd quarter worth $54,000. NBC Securities Inc. purchased a new position in Upland Software during the third quarter worth about $209,000. Victory Capital Management Inc. acquired a new position in Upland Software in the 3rd quarter valued at about $1,098,000. Assenagon Asset Management S.A. grew its stake in shares of Upland Software by 13.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 580,043 shares of the software maker’s stock valued at $2,680,000 after buying an additional 67,331 shares during the period. Finally, Barclays PLC increased its holdings in shares of Upland Software by 100.3% during the 3rd quarter. Barclays PLC now owns 70,663 shares of the software maker’s stock worth $326,000 after buying an additional 35,378 shares during the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.

About Upland Software

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.