Investors Purchase High Volume of Put Options on Upland Software (NASDAQ:UPLD)

Upland Software Inc (NASDAQ:UPLD) was the target of some unusual options trading activity on Thursday. Stock investors bought 1,005 put options on the company. This represents an increase of 1,069% compared to the average volume of 86 put options.

NASDAQ:UPLD opened at $40.52 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of -41.35, a price-to-earnings-growth ratio of 1.00 and a beta of 0.53. The firm’s fifty day simple moving average is $38.02 and its 200 day simple moving average is $39.34. Upland Software has a twelve month low of $29.15 and a twelve month high of $54.87. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.57.

Upland Software (NASDAQ:UPLD) last released its quarterly earnings results on Thursday, November 7th. The software maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.20. The business had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $55.33 million. Upland Software had a negative net margin of 11.31% and a positive return on equity of 21.45%. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, analysts expect that Upland Software will post 1.43 EPS for the current fiscal year.

In other Upland Software news, Director Stephen E. Courter sold 1,450 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $34.42, for a total transaction of $49,909.00. Following the transaction, the director now directly owns 11,651 shares in the company, valued at $401,027.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.60% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC boosted its holdings in Upland Software by 2.3% in the third quarter. Rice Hall James & Associates LLC now owns 24,050 shares of the software maker’s stock valued at $838,000 after acquiring an additional 552 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Upland Software during the third quarter valued at $1,743,000. California Public Employees Retirement System lifted its position in Upland Software by 525.1% during the third quarter. California Public Employees Retirement System now owns 46,659 shares of the software maker’s stock valued at $1,627,000 after buying an additional 39,195 shares during the period. Squarepoint Ops LLC lifted its position in Upland Software by 73.6% during the third quarter. Squarepoint Ops LLC now owns 91,987 shares of the software maker’s stock valued at $3,207,000 after buying an additional 38,987 shares during the period. Finally, Invesco Ltd. lifted its position in Upland Software by 58.2% during the second quarter. Invesco Ltd. now owns 155,283 shares of the software maker’s stock valued at $7,070,000 after buying an additional 57,109 shares during the period. Institutional investors and hedge funds own 81.34% of the company’s stock.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Upland Software from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Zacks Investment Research cut shares of Upland Software from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th. Jefferies Financial Group cut their target price on shares of Upland Software from $61.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, November 8th. They noted that the move was a valuation call. Raymond James lifted their price target on shares of Upland Software from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, BidaskClub cut shares of Upland Software from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Upland Software has a consensus rating of “Buy” and an average target price of $50.67.

About Upland Software

Upland Software, Inc provides cloud-based enterprise work management software in the United States, Canada, and internationally. The company offers a family of software applications under the Upland brand in the areas of information technology (IT), process excellence and operations, finance, professional services, and marketing.

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