The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Equities researchers at Wedbush dropped their Q3 2017 EPS estimates for shares of The Ultimate Software Group in a note issued to investors on Wednesday. Wedbush analyst S. Koenig now expects that the technology company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.41. Wedbush currently has a “Outperform” rating and a $236.00 target price on the stock. Wedbush also issued estimates for The Ultimate Software Group’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.68 EPS and FY2018 earnings at $1.66 EPS.

A number of other analysts have also issued reports on the stock. Stephens reiterated an “equal weight” rating and set a $203.00 price target (down from $215.00) on shares of The Ultimate Software Group in a research note on Wednesday, August 2nd. Canaccord Genuity lowered their price objective on The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. Credit Suisse Group reissued an “outperform” rating and set a $245.00 price objective (down from $260.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Deutsche Bank AG downgraded The Ultimate Software Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $230.00 to $210.00 in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada lowered their price objective on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The Ultimate Software Group has a consensus rating of “Buy” and an average price target of $236.78.

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Shares of 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 company has a market capitalization of $5.84 billion, a PE ratio of 202.52 and a beta of 1.08. The stock has a 50 day moving average of $217.85 and a 200-day moving average of $206.02.

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

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

Large investors have recently bought and sold shares of the stock. Creative Planning increased its stake 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 last quarter. Acrospire Investment Management LLC increased its stake 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 last quarter. Benjamin F. Edwards & Company Inc. increased its stake 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 last quarter. Sphera Funds Management LTD. purchased a new stake in The Ultimate Software Group during the first quarter valued at $156,000. Finally, Huntington National Bank increased 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.

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.

Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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