Share on StockTwits

Analysts at JMP Securities cut their price objective on shares of The Ultimate Software Group (NASDAQ:ULTI) from $161.00 to $149.00 in a research report issued to clients and investors on Wednesday, Analyst RN reports. JMP Securities’ price objective indicates a potential upside of 25.76% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Evercore Partners cut their price target on shares of The Ultimate Software Group from $170.00 to $150.00 in a research note on Wednesday. Separately, 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. Finally, 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. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $161.36.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down 1.67% on Wednesday, hitting $116.50. 521,973 shares of the company’s stock traded hands. The Ultimate Software Group has a one year low of $100.81 and a one year high of $171.96. The stock’s 50-day moving average is $135.3 and its 200-day moving average is $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 announced its earnings results on Tuesday, April 29th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 23.7% on a year-over-year basis. Analysts expect that The Ultimate Software Group will post $1.97 EPS for the current fiscal year.

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.