Benzinga | Nov 2, 2020 04:30PM EST

Why Coupa Software's Stock Is Trading Lower Today

Coupa Software (NASDAQ:COUP) shares are trading lower on Monday after the company announced it acquired LLamasoft for $1.5 billion.

Coupa Software is a cloud-based, business spending management platform that provides companies with more control and visibility into how they spend money. Since it was founded in 2006, Coupa has connected buyers with suppliers and helped buyers save money by improving procurement, expense management, and invoice processing. The company is headquartered in San Mateo, California, and went public in October 2016.

Coupa Software shares were trading down 7.62% at $247.29 on Monday. The stock has a 52-week high of $253.55 and a 52-week low of $99.01.