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The Ultimate Software Group (NASDAQ:ULTI) CEO Scott Scherr sold 50,000 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $136.04, for a total value of $6,802,000.00. Following the sale, the chief executive officer now directly owns 287,500 shares in the company, valued at approximately $39,111,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ULTI has been the subject of a number of recent research reports. Analysts at Wedbush raised their price target on shares of The Ultimate Software Group from $129.00 to $139.00 in a research note on Thursday. Separately, analysts at Robert W. Baird raised their price target on shares of The Ultimate Software Group from $132.00 to $140.00 in a research note on Thursday. Finally, analysts at Canaccord Genuity raised their price target on shares of The Ultimate Software Group from $150.00 to $155.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $160.08.

The Ultimate Software Group (NASDAQ:ULTI) traded down 3.30% during mid-day trading on Friday, hitting $130.50. The stock had a trading volume of 361,615 shares. The Ultimate Software Group has a 52-week low of $109.50 and a 52-week high of $171.96. The stock’s 50-day moving average is $134.2 and its 200-day moving average is $139.9. The company has a market cap of $3.687 billion and a P/E ratio of 135.23.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, July 29th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.03. The company had revenue of $122.00 million for the quarter, compared to the consensus estimate of $120.20 million. During the same quarter last year, the company posted $0.34 earnings per share. The Ultimate Software Group’s revenue was up 25.1% compared to the same quarter last year. On average, analysts predict that The Ultimate Software Group will post $2.01 earnings per share 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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