UiPath, Inc. PATH shares are trading lower Tuesday. Shares of technology and software stocks are trading lower amid rising Treasury yields, which have negatively impacted growth stocks. The company also announced a partnership with Apprio.
What To Know: Rising Treasury yields weighed on technology and software stocks Tuesday due to the fact that it may have implications on the ability for growth companies to attain capital.
Additionally on Tuesday, UiPath announced a partnership with Apprio to provide managed automation services to midmarket healthcare organizations.
"We are excited to grow our partnership with UiPath, the leader in AI-powered enterprise automation, and help our healthcare customers create a modern vision of traditional revenue cycle management services," said Darryl Britt, President and CEO, Apprio.
"We are seeing increased demand from customers who want pre-built or full-service solutions from Apprio that make implementing, maintaining, and scaling automation practices much more simplified, convenient, and cost effective. The managed services model provides customers with immediate return on investment while benefiting from our deep automation expertise in license management, implementation, and ongoing development and support."
Related Link: Why Meta Stock Is Slumping Today
PATH Price Action: Shares of PATH were down 7.05% at $16.03 at the time of publication, according to Benzinga Pro.
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