Bessemer Group Inc. Raises Stake in Upland Software Inc (UPLD)
Bessemer Group Inc. grew its position in Upland Software Inc (NASDAQ:UPLD) by 62.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,600 shares of the software maker’s stock after purchasing an additional 6,000 shares during the period. Bessemer Group Inc.’s holdings in Upland Software were worth $338,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of UPLD. The Manufacturers Life Insurance Company lifted its holdings in shares of Upland Software by 784.1% in the second quarter. The Manufacturers Life Insurance Company now owns 7,179 shares of the software maker’s stock valued at $158,000 after purchasing an additional 6,367 shares in the last quarter. New York State Common Retirement Fund bought a new stake in shares of Upland Software in the second quarter valued at about $172,000. Sterling Capital Management LLC bought a new stake in shares of Upland Software in the second quarter valued at about $201,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Upland Software in the second quarter valued at about $258,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Upland Software in the fourth quarter valued at about $272,000. Institutional investors own 33.33% of the company’s stock.
A number of brokerages have recently commented on UPLD. ValuEngine upgraded Upland Software from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded Upland Software from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, BidaskClub raised Upland Software from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Upland Software currently has a consensus rating of “Buy” and a consensus price target of $26.40.
In related news, CEO John T. Mcdonald sold 67,500 shares of Upland Software stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $22.23, for a total value of $1,500,525.00. Following the sale, the chief executive officer now owns 1,758,288 shares of the company’s stock, valued at $39,086,742.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Systems Corp Wave sold 1,460,862 shares of Upland Software stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $22.00, for a total value of $32,138,964.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,039,712 shares of company stock worth $44,932,254. 30.20% of the stock is owned by company insiders.
Upland Software Profile
Upland Software Inc is a provider of cloud-based enterprise work management software. The Company provides a family of cloud-based enterprise work management software applications for the information technology, process excellence, finance, professional services and marketing functions within organizations.
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