Bank of Montreal Can Makes New Investment in UiPath Inc. (NYSE:PATH)

Bank of Montreal Can bought a new position in UiPath Inc. (NYSE:PATH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 229,343 shares of the healthcare company’s stock, valued at approximately $4,156,000.

Other institutional investors also recently modified their holdings of the company. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of UiPath in the first quarter worth about $2,644,000. Principal Financial Group Inc. raised its stake in shares of UiPath by 517.0% during the first quarter. Principal Financial Group Inc. now owns 228,517 shares of the healthcare company’s stock worth $4,013,000 after buying an additional 191,478 shares during the last quarter. State of Michigan Retirement System bought a new stake in shares of UiPath during the second quarter worth approximately $2,979,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of UiPath by 31.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 67,743 shares of the healthcare company’s stock worth $1,190,000 after buying an additional 16,385 shares during the last quarter. Finally, Bangor Savings Bank raised its stake in shares of UiPath by 109,876.4% during the second quarter. Bangor Savings Bank now owns 60,487 shares of the healthcare company’s stock worth $1,002,000 after buying an additional 60,432 shares during the last quarter. 59.04% of the stock is owned by institutional investors.

UiPath Stock Up 4.5 %

UiPath stock opened at $17.32 on Monday. The stock has a market capitalization of $9.82 billion, a PE ratio of -54.13 and a beta of 0.60. UiPath Inc. has a twelve month low of $10.40 and a twelve month high of $19.94. The company has a 50 day moving average of $16.47 and a 200-day moving average of $16.31.

UiPath (NYSE:PATH) last released its quarterly earnings results on Wednesday, September 6th. The healthcare company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $287.31 million during the quarter, compared to analysts’ expectations of $281.48 million. UiPath had a negative net margin of 15.47% and a negative return on equity of 7.49%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Equities analysts anticipate that UiPath Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $15.52, for a total transaction of $620,800.00. Following the completion of the transaction, the chief financial officer now owns 1,344,047 shares in the company, valued at $20,859,609.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Rich Wong sold 100,000 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $16.38, for a total transaction of $1,638,000.00. Following the completion of the transaction, the director now owns 779,693 shares in the company, valued at $12,771,371.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $15.52, for a total transaction of $620,800.00. Following the transaction, the chief financial officer now owns 1,344,047 shares of the company’s stock, valued at approximately $20,859,609.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,000 shares of company stock worth $3,598,000. 31.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PATH shares. DA Davidson boosted their price target on shares of UiPath from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, September 7th. Mizuho boosted their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, September 7th. Barclays boosted their price target on shares of UiPath from $16.00 to $18.00 in a research note on Thursday, September 7th. Macquarie boosted their price objective on shares of UiPath from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of UiPath in a report on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, UiPath presently has an average rating of “Hold” and a consensus target price of $19.84.

UiPath Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.