Short Interest in Upland Software, Inc. (NASDAQ:UPLD) Rises By 61.6%

Upland Software, Inc. (NASDAQ:UPLD) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 567,900 shares, a growth of 61.6% from the December 15th total of 351,500 shares. Based on an average daily trading volume, of 378,800 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Upland Software

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its holdings in Upland Software by 30.0% in the third quarter. FMR LLC now owns 78,626 shares of the software maker’s stock worth $196,000 after purchasing an additional 18,134 shares during the period. Rice Hall James & Associates LLC lifted its position in shares of Upland Software by 115.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 589,226 shares of the software maker’s stock worth $1,467,000 after buying an additional 315,651 shares during the last quarter. Heron Bay Capital Management acquired a new position in shares of Upland Software in the 2nd quarter valued at about $185,000. Renaissance Technologies LLC grew its position in shares of Upland Software by 180.6% during the 2nd quarter. Renaissance Technologies LLC now owns 288,408 shares of the software maker’s stock valued at $718,000 after buying an additional 185,617 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Upland Software during the third quarter worth about $31,000. 77.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Upland Software in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.75.

Upland Software Stock Down 1.0 %

NASDAQ UPLD traded down $0.04 on Thursday, hitting $3.99. 15,565 shares of the stock traded hands, compared to its average volume of 261,698. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 324.05. The stock has a 50-day moving average of $3.98 and a 200 day moving average of $2.90. Upland Software has a twelve month low of $1.79 and a twelve month high of $5.64. The company has a market capitalization of $109.49 million, a P/E ratio of -0.88 and a beta of 1.28.

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.