The Ultimate Software Group, Inc. (NASDAQ:ULTI)‘s stock had its “overweight” rating reissued by analysts at Piper Jaffray Companies in a report released on Saturday. They currently have a $250.00 price objective on the technology company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 10.92% from the stock’s current price.

A number of other equities analysts also recently issued reports on ULTI. Credit Suisse Group AG reissued an “outperform” rating and set a $260.00 target price on shares of The Ultimate Software Group in a research note on Friday, April 7th. Guggenheim started coverage on The Ultimate Software Group in a research note on Wednesday, April 12th. They set a “buy” rating and a $230.00 target price for the company. MKM Partners reissued a “buy” rating and set a $250.00 target price on shares of The Ultimate Software Group in a research note on Friday, April 14th. Canaccord Genuity restated a “buy” rating and issued a $240.00 price target on shares of The Ultimate Software Group in a report on Friday, April 21st. Finally, Wedbush lowered their price target on The Ultimate Software Group from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The Ultimate Software Group has an average rating of “Buy” and a consensus target price of $240.69.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded up 0.34% during mid-day trading on Friday, reaching $225.39. The company’s stock had a trading volume of 223,494 shares. The company’s 50 day moving average price is $215.79 and its 200-day moving average price is $203.88. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $227.16. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 223.16 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, April 25th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The business had revenue of $228.49 million during the quarter, compared to the consensus estimate of $228.87 million. The Ultimate Software Group had a return on equity of 6.88% and a net margin of 3.23%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. Analysts predict that The Ultimate Software Group will post $3.98 earnings per share for the current fiscal year.

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In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $198.95, for a total transaction of $921,138.50. Following the sale, the director now owns 15,421 shares in the company, valued at approximately $3,068,007.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Adam Rogers sold 3,482 shares of the stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $198.92, for a total value of $692,639.44. Following the sale, the vice president now owns 51,477 shares in the company, valued at approximately $10,239,804.84. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Huntington National Bank boosted its stake in shares of The Ultimate Software Group by 24.7% in the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after buying an additional 170 shares during the period. State Treasurer State of Michigan raised its position in shares of The Ultimate Software Group by 0.8% in the second quarter. State Treasurer State of Michigan now owns 12,200 shares of the technology company’s stock worth $2,563,000 after buying an additional 100 shares in the last quarter. Aperio Group LLC raised its position in shares of The Ultimate Software Group by 43.9% in the second quarter. Aperio Group LLC now owns 23,615 shares of the technology company’s stock worth $4,961,000 after buying an additional 7,199 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of The Ultimate Software Group by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the technology company’s stock worth $1,638,000 after buying an additional 300 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of The Ultimate Software Group by 15.9% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the technology company’s stock worth $573,000 after buying an additional 374 shares in the last quarter.

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.

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

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