The Ultimate Software Group, Inc. (ULTI) Receives Average Recommendation of “Buy” from Brokerages

Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) have received an average rating of “Buy” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $235.29.

A number of equities analysts have weighed in on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $250.00 price target on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. Credit Suisse Group reiterated an “outperform” rating and issued a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. KeyCorp reissued a “buy” rating on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Stephens reissued an “equal weight” rating and issued a $203.00 target price (down previously from $215.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 28th.

In related news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $3,005,850. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the sale, the vice president now directly owns 78,633 shares in the company, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its position in The Ultimate Software Group by 6.6% during the second quarter. Lord Abbett & CO. LLC now owns 37,321 shares of the technology company’s stock valued at $7,840,000 after acquiring an additional 2,317 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in The Ultimate Software Group during the second quarter valued at $883,000. Wasatch Advisors Inc. increased its position in The Ultimate Software Group by 4.0% during the second quarter. Wasatch Advisors Inc. now owns 885,221 shares of the technology company’s stock valued at $185,950,000 after acquiring an additional 33,692 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in The Ultimate Software Group by 32.7% during the second quarter. Public Employees Retirement System of Ohio now owns 83,464 shares of the technology company’s stock valued at $17,532,000 after acquiring an additional 20,566 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in The Ultimate Software Group by 2.0% during the second quarter. Ameritas Investment Partners Inc. now owns 8,893 shares of the technology company’s stock valued at $1,868,000 after acquiring an additional 172 shares during the last quarter.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down 1.43% during trading on Tuesday, hitting $190.95. The stock had a trading volume of 274,983 shares. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $233.42. The company has a market capitalization of $5.70 billion, a P/E ratio of 197.06 and a beta of 1.09. The firm has a 50-day moving average of $202.39 and a 200 day moving average of $206.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.03). The firm had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 earnings per share. Equities research analysts predict that The Ultimate Software Group will post $3.53 earnings per share for the current fiscal year.

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The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

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