Analysts Set The Ultimate Software Group, Inc. (ULTI) Target Price at $238.25

Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) have earned an average recommendation of “Buy” from the nineteen research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $238.25.

Several brokerages have recently commented on ULTI. Zacks Investment Research downgraded The Ultimate Software Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of The Ultimate Software Group in a research note on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and issued a $240.00 price target on shares of The Ultimate Software Group in a research note on Friday, April 21st. Guggenheim reaffirmed a “buy” rating and issued a $230.00 price objective on shares of The Ultimate Software Group in a report on Tuesday, April 18th. Finally, Wells Fargo & Co initiated coverage on The Ultimate Software Group in a report on Thursday, May 11th. They issued an “outperform” rating and a $240.00 price objective for the company.

Shares of The Ultimate Software Group (NASDAQ ULTI) traded up 0.10% during mid-day trading on Friday, hitting $216.71. 86,149 shares of the company were exchanged. The stock has a market cap of $6.44 billion, a PE ratio of 214.56 and a beta of 1.10. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $225.62. The stock’s 50-day moving average price is $213.92 and its 200 day moving average price is $199.51.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, April 25th. The technology company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. The firm had revenue of $228.49 million during the quarter, compared to the consensus estimate of $228.87 million. The Ultimate Software Group had a return on equity of 6.88% and a net margin of 3.23%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. On average, equities analysts anticipate that The Ultimate Software Group will post $3.99 EPS for the current fiscal year.

In other The Ultimate Software Group news, VP Adam Rogers sold 3,482 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $198.92, for a total transaction of $692,639.44. Following the completion of the transaction, the vice president now directly owns 51,477 shares of the company’s stock, valued at $10,239,804.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $198.95, for a total value of $921,138.50. Following the transaction, the director now directly owns 15,421 shares of the company’s stock, valued at $3,068,007.95. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in The Ultimate Software Group by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 600 shares of the technology company’s stock worth $117,000 after buying an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in The Ultimate Software Group by 1,318.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 709 shares of the technology company’s stock worth $138,000 after buying an additional 659 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in The Ultimate Software Group by 11.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 859 shares of the technology company’s stock worth $156,000 after buying an additional 90 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in The Ultimate Software Group during the first quarter worth $156,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Ultimate Software Group by 19.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 875 shares of the technology company’s stock worth $179,000 after buying an additional 142 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

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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.

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