Equities researchers at Wells Fargo & Co assumed coverage on shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set an “outperform” rating on the technology company’s stock.

A number of other brokerages have also weighed in on ULTI. Wedbush reduced their price objective on The Ultimate Software Group from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Canaccord Genuity restated a “buy” rating and set a $240.00 price objective on shares of The Ultimate Software Group in a research report on Friday, April 21st. Zacks Investment Research lowered The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Guggenheim restated a “buy” rating and set a $230.00 price objective on shares of The Ultimate Software Group in a research report on Tuesday, April 18th. Finally, MKM Partners restated a “buy” rating and set a $250.00 price objective on shares of The Ultimate Software Group in a research report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. The Ultimate Software Group presently has a consensus rating of “Buy” and an average target price of $234.54.

Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down 1.36% during mid-day trading on Thursday, hitting $209.40. The stock had a trading volume of 178,204 shares. The firm has a market cap of $6.19 billion, a PE ratio of 207.33 and a beta of 0.97. The stock has a 50 day moving average price of $200.76 and a 200 day moving average price of $197.88. The Ultimate Software Group has a 52 week low of $180.29 and a 52 week high of $224.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, April 25th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $228.49 million during the quarter, compared to analysts’ expectations of $228.87 million. The Ultimate Software Group had a return on equity of 4.15% and a net margin of 2.77%. The Ultimate Software Group’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. Equities research analysts expect that The Ultimate Software Group will post $3.98 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/11/wells-fargo-co-begins-coverage-on-the-ultimate-software-group-inc-ulti.html.

In other news, Director Robert Yanover sold 200 shares of the business’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $196.58, for a total value of $39,316.00. Following the transaction, the director now directly owns 36,353 shares of the company’s stock, valued at approximately $7,146,272.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott Scherr sold 44,566 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $193.85, for a total value of $8,639,119.10. Following the completion of the transaction, the chairman now directly owns 514,675 shares in the company, valued at $99,769,748.75. The disclosure for this sale can be found here. Insiders sold a total of 59,089 shares of company stock worth $11,502,432 over the last three months. 5.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Ultimate Software Group by 19.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 875 shares of the technology company’s stock worth $179,000 after buying an additional 142 shares during the period. KCG Holdings Inc. purchased a new position in The Ultimate Software Group during the third quarter worth $1,583,000. Profund Advisors LLC increased its position in The Ultimate Software Group by 29.6% in the third quarter. Profund Advisors LLC now owns 3,898 shares of the technology company’s stock worth $797,000 after buying an additional 890 shares during the period. BOKF NA increased its position in The Ultimate Software Group by 2.7% in the third quarter. BOKF NA now owns 1,132 shares of the technology company’s stock worth $231,000 after buying an additional 30 shares during the period. Finally, Pacer Advisors Inc. increased its position in The Ultimate Software Group by 7.4% in the third quarter. Pacer Advisors Inc. now owns 2,924 shares of the technology company’s stock worth $598,000 after buying an additional 202 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc (Ultimate) is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is an engaging solution that has human resources (HR), payroll and benefits management. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

5 Day Chart for NASDAQ:ULTI

The Fly

Receive News & Ratings for The Ultimate Software Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.