Is Upland Software (UPLD) Stock Bearish?

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2022 investor letter, a copy of which can be downloaded here. In the fourth quarter, the fund delivered a 10.36% net return compared to an 8.42% return for the Russell 2000 Value Index and a 9.21% return for the Russell 2500 Value Index. Health Care was the significant contributor to the fund’s performance in the quarter, while Materials detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Bernzott Capital Advisors highlighted stocks like Upland Software, Inc. (NASDAQ:UPLD) in the Q4 2022 investor letter. Based in Austin, Texas, Upland Software, Inc. (NASDAQ:UPLD) is a cloud-based enterprise work management software providing company. On January 23, 2023, Upland Software, Inc. (NASDAQ:UPLD) stock closed at $8.34 per share. One-month return of Upland Software, Inc. (NASDAQ:UPLD) was 23.19%, and its shares lost 57.34% of their value over the last 52 weeks. Upland Software, Inc. (NASDAQ:UPLD) has a market capitalization of $265.029 million.

Bernzott Capital Advisors made the following comment about Upland Software, Inc. (NASDAQ:UPLD) in its Q4 2022 investor letter:

Upland Software, Inc. (NASDAQ:UPLD): The company’s promising effort to expand its go-to-market approach sputtered, and organic growth disappointed. Margins were depressed by the additional expenses and the timeframe for achieving margin targets became murkier. This uncertainty together with an unexpected capital raise,prompted us to sell.”

Upland Software, Inc. (NASDAQ:UPLD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Upland Software, Inc. (NASDAQ:UPLD) at the end of the third quarter which was 12 in the previous quarter.

We discussed Upland Software, Inc. (NASDAQ:UPLD) in another article and shared Bernzott Capital Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.