The Ultimate Software Group, Inc. (NASDAQ:ULTI) received a $255.00 target price from research analysts at KeyCorp in a report issued on Thursday. The firm presently has a “buy” rating on the technology company’s stock. KeyCorp’s price objective would suggest a potential upside of 11.45% from the stock’s previous close.

ULTI has been the subject of a number of other research reports. Piper Jaffray Companies reissued an “overweight” rating and set a $250.00 target price on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. Credit Suisse Group reaffirmed a “buy” rating on shares of The Ultimate Software Group in a research note on Monday, July 3rd. BidaskClub cut shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research raised shares of The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, SunTrust Banks, Inc. started coverage on shares of The Ultimate Software Group in a research note on Monday, June 26th. They issued a “buy” rating and a $240.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $241.53.

The Ultimate Software Group (NASDAQ:ULTI) traded down 2.18% during trading on Thursday, hitting $223.83. The stock had a trading volume of 228,613 shares. The firm has a 50 day moving average of $216.46 and a 200-day moving average of $205.05. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 221.61 and a beta of 1.07. The Ultimate Software Group has a 12 month low of $180.29 and a 12 month high of $233.42.

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

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Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of The Ultimate Software Group by 24.1% in the first quarter. Russell Investments Group Ltd. now owns 200,846 shares of the technology company’s stock worth $39,212,000 after buying an additional 39,052 shares in the last quarter. Profund Advisors LLC increased its stake in shares of The Ultimate Software Group by 11.7% in the first quarter. Profund Advisors LLC now owns 4,059 shares of the technology company’s stock worth $792,000 after buying an additional 425 shares during the last quarter. NBW Capital LLC increased its stake in shares of The Ultimate Software Group by 6.5% in the first quarter. NBW Capital LLC now owns 27,238 shares of the technology company’s stock worth $5,317,000 after buying an additional 1,669 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of The Ultimate Software Group by 2.3% in the first quarter. Retirement Systems of Alabama now owns 38,296 shares of the technology company’s stock worth $7,476,000 after buying an additional 848 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of The Ultimate Software Group by 154.4% in the first quarter. Conestoga Capital Advisors LLC now owns 5,725 shares of the technology company’s stock worth $1,118,000 after buying an additional 3,475 shares during the last quarter.

About The Ultimate Software Group

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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