The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Investment analysts at Oppenheimer Holdings cut their Q3 2017 earnings per share (EPS) estimates for shares of The Ultimate Software Group in a report issued on Wednesday. Oppenheimer Holdings analyst B. Schwartz now expects that the technology company will post earnings of $0.12 per share for the quarter, down from their prior estimate of $0.32. Oppenheimer Holdings also issued estimates for The Ultimate Software Group’s Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $1.89 EPS and FY2019 earnings at $2.43 EPS.

A number of other research firms have also recently commented on ULTI. KeyCorp set a $255.00 target price on shares of The Ultimate Software Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Roth Capital lifted their target price on shares of The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Mizuho reiterated a “neutral” rating and issued a $200.00 target price (down from $220.00) on shares of The Ultimate Software Group in a research note on Tuesday, August 1st. Canaccord Genuity lowered their target price on shares of The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada lowered their target price on shares of The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The Ultimate Software Group has a consensus rating of “Buy” and an average price target of $236.78.

TRADEMARK VIOLATION WARNING: “Equities Analysts Issue Forecasts for The Ultimate Software Group, Inc.’s Q3 2017 Earnings (ULTI)” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/08/07/equities-analysts-issue-forecasts-for-the-ultimate-software-group-inc-s-q3-2017-earnings-ulti.html.

The Ultimate Software Group (ULTI) opened at 196.24 on Monday. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $233.42. The stock has a market capitalization of $5.84 billion, a PE ratio of 202.52 and a beta of 1.08. The stock’s 50 day moving average is $217.85 and its 200 day moving average is $206.02.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.03. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The company had revenue of $224.70 million for the quarter, compared to analysts’ expectations of $228.02 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis.

In other news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the transaction, the vice president now directly owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $3,005,850. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Creative Planning raised its position in The Ultimate Software Group by 257.4% in the second quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after buying an additional 363 shares during the period. Acrospire Investment Management LLC raised its position in The Ultimate Software Group by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 600 shares of the technology company’s stock valued at $117,000 after buying an additional 200 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in The Ultimate Software Group by 1,318.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 709 shares of the technology company’s stock valued at $138,000 after buying an additional 659 shares during the period. Sphera Funds Management LTD. purchased a new position in The Ultimate Software Group during the first quarter valued at $156,000. Finally, Huntington National Bank raised its position 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 period.

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.

Earnings History and Estimates 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.