Share on StockTwits

Stock analysts at Evercore Partners dropped their target price on shares of The Ultimate Software Group (NASDAQ:ULTI) from $170.00 to $150.00 in a report issued on Wednesday, American Banking & Market News reports. Evercore Partners’ target price would indicate a potential upside of 26.60% from the stock’s previous close.

The Ultimate Software Group (NASDAQ:ULTI) traded down 1.67% during mid-day trading on Wednesday, hitting $116.50. The stock had a trading volume of 521,973 shares. The Ultimate Software Group has a 1-year low of $100.81 and a 1-year high of $171.96. The stock has a 50-day moving average of $135.3 and a 200-day moving average of $150.3. The company has a market cap of $3.296 billion and a price-to-earnings ratio of 134.64.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.07. The company had revenue of $121.10 million for the quarter, compared to the consensus estimate of $118.75 million. During the same quarter last year, the company posted $0.32 earnings per share. The Ultimate Software Group’s revenue was up 23.7% compared to the same quarter last year. Analysts expect that The Ultimate Software Group will post $1.97 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of The Ultimate Software Group in a research note on Wednesday. They now have a $150.00 price target on the stock, down previously from $185.00. Separately, analysts at Deutsche Bank initiated coverage on shares of The Ultimate Software Group in a research note on Monday, April 14th. They set a “buy” rating and a $160.00 price target on the stock. Finally, analysts at Raymond James upgraded shares of The Ultimate Software Group from a “market perform” rating to an “outperform” rating in a research note on Monday, April 14th. They now have a $150.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The Ultimate Software Group presently has an average rating of “Buy” and an average target price of $161.36.

The Ultimate Software Group, Inc (NASDAQ:ULTI) is a provider of cloud-based human capital management (HCM).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.