Royal London Asset Management Ltd. lifted its position in Coupa Software Incorporated (NASDAQ:COUP – Get Rating) by 1.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 26,210 shares of the technology company’s stock after acquiring an additional 378 shares during the period. Royal London Asset Management Ltd.’s holdings in Coupa Software were worth $1,498,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Advisors bought a new position in shares of Coupa Software in the second quarter worth approximately $41,000. Advisors Asset Management Inc. lifted its position in Coupa Software by 56.9% during the first quarter. Advisors Asset Management Inc. now owns 965 shares of the technology company’s stock valued at $98,000 after purchasing an additional 350 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Coupa Software during the first quarter valued at approximately $139,000. Quantamental Technologies LLC bought a new position in Coupa Software during the first quarter valued at approximately $202,000. Finally, Wellington Management Group LLP bought a new position in Coupa Software during the first quarter valued at approximately $213,000.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Coupa Software from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $55.00 to $81.00 in a research report on Monday, December 12th. Wells Fargo & Company increased their price objective on shares of Coupa Software from $65.00 to $81.00 in a research report on Tuesday, December 13th. Raymond James downgraded shares of Coupa Software from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 13th. Wolfe Research cut shares of Coupa Software from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 13th. Finally, Truist Financial reaffirmed a “hold” rating on shares of Coupa Software in a report on Tuesday, December 13th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $78.83.
Coupa Software Stock Performance
COUP opened at $78.72 on Friday. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -17.15 and a beta of 1.35. The company has a fifty day moving average of $56.16 and a 200 day moving average of $61.44. Coupa Software Incorporated has a fifty-two week low of $40.29 and a fifty-two week high of $166.21. The company has a debt-to-equity ratio of 6.81, a quick ratio of 1.82 and a current ratio of 1.82.
Coupa Software (NASDAQ:COUP – Get Rating) last posted its earnings results on Monday, December 12th. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $217.30 million during the quarter, compared to analysts’ expectations of $213.31 million. Coupa Software had a negative net margin of 43.73% and a negative return on equity of 24.29%. Coupa Software’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted ($0.36) earnings per share. As a group, sell-side analysts forecast that Coupa Software Incorporated will post -2.26 earnings per share for the current fiscal year.
Insider Activity at Coupa Software
In related news, CEO Robert Bernshteyn sold 8,074 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total transaction of $534,498.80. Following the completion of the transaction, the chief executive officer now directly owns 252,274 shares of the company’s stock, valued at $16,700,538.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coupa Software news, CAO Maurizio Baratta sold 598 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total transaction of $39,587.60. Following the completion of the transaction, the chief accounting officer now owns 5,265 shares in the company, valued at $348,543. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Bernshteyn sold 8,074 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total transaction of $534,498.80. Following the transaction, the chief executive officer now owns 252,274 shares of the company’s stock, valued at approximately $16,700,538.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,437 shares of company stock valued at $1,205,646. Corporate insiders own 2.20% of the company’s stock.
Coupa Software Profile
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Coupa Software Incorporated provides a cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enabling businesses to achieve savings that drive profitability.
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