The Ultimate Software Group, Inc. (NASDAQ:ULTI) has earned a consensus recommendation of “Buy” from the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $239.21.

ULTI has been the subject of a number of analyst reports. BidaskClub cut The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research cut The Ultimate Software Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. ValuEngine raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Wells Fargo & Company began coverage on The Ultimate Software Group in a research note on Thursday, May 11th. They issued an “outperform” rating and a $240.00 target price for the company. Finally, SunTrust Banks, Inc. began coverage on The Ultimate Software Group in a research note on Monday, June 26th. They issued a “buy” rating and a $240.00 target price for the company.

In related news, VP Adam Rogers sold 3,482 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $198.92, for a total transaction of $692,639.44. Following the sale, the vice president now owns 51,477 shares in the company, valued at $10,239,804.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $198.95, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank raised its stake in The Ultimate Software Group by 24.7% in the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after buying an additional 170 shares during the last quarter. State Treasurer State of Michigan raised its stake in 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 valued at $2,563,000 after buying an additional 100 shares in the last quarter. Aperio Group LLC raised its stake in 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 valued at $4,961,000 after buying an additional 7,199 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in 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 valued at $1,638,000 after buying an additional 300 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in 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 valued at $573,000 after buying an additional 374 shares in the last quarter.

ILLEGAL ACTIVITY WARNING: This article was reported by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://www.americanbankingnews.com/2017/07/24/the-ultimate-software-group-inc-nasdaqulti-given-average-rating-of-buy-by-brokerages.html.

The Ultimate Software Group (NASDAQ:ULTI) traded up 1.07% during trading on Monday, hitting $227.81. The company had a trading volume of 227,385 shares. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 225.55 and a beta of 1.08. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $228.23. The firm has a 50-day moving average of $215.79 and a 200 day moving average of $203.88.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data 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 Ultimate Software Group had a return on equity of 6.88% and a net margin of 3.23%. The business had revenue of $228.49 million during the quarter, compared to analysts’ expectations of $228.87 million. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts forecast that The Ultimate Software Group will post $3.98 earnings per share for the current year.

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)

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.