The Ultimate Software Group, Inc. (NASDAQ:ULTI)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a report released on Tuesday. They currently have a $216.00 price target on the technology company’s stock, down from their previous price target of $233.00. Royal Bank Of Canada’s target price points to a potential upside of 10.40% from the stock’s current price.

Several other research firms also recently weighed in on ULTI. KeyCorp set a $255.00 price target on shares of The Ultimate Software Group and gave the company a “buy” rating in a research note on Thursday, July 27th. Roth Capital lifted their price target on shares of The Ultimate Software Group from $254.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Mizuho reiterated a “neutral” rating and set a $200.00 price objective (down from $220.00) on shares of The Ultimate Software Group in a report on Tuesday, August 1st. Canaccord Genuity reduced their price objective on shares of The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG cut shares of The Ultimate Software Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $230.00 to $210.00 in a report on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $236.78.

The Ultimate Software Group (ULTI) traded up 1.27% during trading on Tuesday, hitting $195.65. 398,664 shares of the stock were exchanged. The Ultimate Software Group has a 52 week low of $180.29 and a 52 week high of $233.42. The firm has a market cap of $5.82 billion, a PE ratio of 201.91 and a beta of 1.08. The firm’s 50-day moving average is $217.11 and its 200 day moving average is $205.87.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $228.02 million. During the same period last year, the firm posted $0.76 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts expect that The Ultimate Software Group will post $3.53 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 4,613 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $924,399.07. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $3,005,850. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the sale, the vice president now directly owns 78,633 shares in the company, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of The Ultimate Software Group by 4.1% in the fourth quarter. AQR Capital Management LLC now owns 6,462 shares of the technology company’s stock valued at $1,178,000 after buying an additional 254 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of The Ultimate Software Group by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 64,816 shares of the technology company’s stock valued at $11,819,000 after buying an additional 1,881 shares in the last quarter. Foundry Partners LLC raised its stake in shares of The Ultimate Software Group by 2.3% in the first quarter. Foundry Partners LLC now owns 18,727 shares of the technology company’s stock valued at $3,656,000 after buying an additional 416 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of The Ultimate Software Group during the first quarter valued at approximately $216,000. Finally, CrestPoint Capital Management LLC bought a new stake in shares of The Ultimate Software Group during the first quarter valued at approximately $293,000.

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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