Ultimate Software Group Price Target Increased to $175.00 by Analysts at Canaccord Genuity (ULTI)
Research analysts at Canaccord Genuity upped their target price on shares of Ultimate Software Group (NASDAQ:ULTI) from $150.00 to $175.00 in a report released on Wednesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 14.24% from the stock’s previous close.
A number of other firms have also recently commented on ULTI. Analysts at Stifel Nicolaus raised their price target on shares of Ultimate Software Group from $140.00 to $175.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Ultimate Software Group from $150.00 to $160.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Ultimate Software Group from $113.00 to $139.00 in a research note to investors on Thursday, October 24th. They now have a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $151.27.
Shares of Ultimate Software Group (NASDAQ:ULTI) traded up 5.21% on Wednesday, hitting $161.165. The stock had a trading volume of 153,086 shares. Ultimate Software Group has a 1-year low of $85.08 and a 1-year high of $148.41. The stock’s 50-day moving average is $142.3 and its 200-day moving average is $117.. The company has a market cap of $4.486 billion and a price-to-earnings ratio of 213.34.
Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, October 29th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.03. The company had revenue of $103.11 million for the quarter, compared to the consensus estimate of $102.99 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts expect that Ultimate Software Group will post $1.41 EPS for the current fiscal year.
The Ultimate Software Group, Inc (NASDAQ:ULTI) is a provider of cloud-based human capital management (HCM).
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