The Ultimate Software Group’s (ULTI) Buy Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reissued their buy rating on shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in a report released on Tuesday morning. Royal Bank Of Canada currently has a $216.00 target price on the technology company’s stock.

ULTI has been the subject of several other reports. Piper Jaffray Companies restated 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 restated 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 restated a buy rating on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Stephens restated an equal weight rating and issued a $203.00 price target (down from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of The Ultimate Software Group from a hold rating to a sell rating in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $235.29.

The Ultimate Software Group (NASDAQ:ULTI) opened at 194.56 on Tuesday. The Ultimate Software Group has a 52 week low of $180.29 and a 52 week high of $233.42. The company has a market capitalization of $5.80 billion, a PE ratio of 200.78 and a beta of 1.07. The firm has a 50-day moving average of $191.86 and a 200-day moving average of $205.03.

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of The Ultimate Software Group by 257.4% during the second quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after purchasing an additional 363 shares in the last quarter. Huntington National Bank lifted its position in shares of The Ultimate Software Group by 24.7% during the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after purchasing an additional 170 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of The Ultimate Software Group by 23.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock valued at $183,000 after purchasing an additional 164 shares in the last quarter. FineMark National Bank & Trust bought a new position in shares of The Ultimate Software Group during the second quarter valued at about $200,000. Finally, ETRADE Capital Management LLC bought a new position in shares of The Ultimate Software Group during the second quarter valued at about $201,000.

About The Ultimate Software Group

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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