The Ultimate Software Group Receives Average Rating of “Buy” from Brokerages (NASDAQ:ULTI)
Shares of The Ultimate Software Group (NASDAQ:ULTI) have been given a consensus recommendation of “Buy” by the nineteen brokerages that are covering the company, Analyst RN reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $160.08.
In other The Ultimate Software Group news, CEO Scott Scherr sold 50,000 shares of The Ultimate Software Group stock on the open market in a transaction dated Thursday, July 31st. The stock was sold at an average price of $136.04, for a total value of $6,802,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on ULTI shares. 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.
The Ultimate Software Group (NASDAQ:ULTI) opened at 130.50 on Wednesday. The Ultimate Software Group has a 1-year low of $109.50 and a 1-year high of $171.96. The stock’s 50-day moving average is $134.2 and its 200-day moving average is $139.7. 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 posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 25.1% on a year-over-year basis. Analysts expect that The Ultimate Software Group will post $2.01 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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