Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) have received an average recommendation of “Buy” from the twenty-three research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $235.29.

Several brokerages have recently weighed in on ULTI. KeyCorp set a $255.00 price objective on The Ultimate Software Group and gave the company a “buy” rating in a report on Thursday, July 27th. Roth Capital upped their price objective on The Ultimate Software Group from $254.00 to $280.00 and gave the company a “buy” rating in a report on Monday, July 31st. Mizuho restated a “neutral” rating and issued a $200.00 price objective (down previously from $220.00) on shares of The Ultimate Software Group in a report on Tuesday, August 1st. Canaccord Genuity cut their price objective on 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, Royal Bank Of Canada cut their price objective on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd.

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In related news, VP Robert Manne sold 5,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was 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 approximately $15,757,266.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of large investors have recently made changes to their positions in ULTI. Jane Street Group LLC increased its stake in shares of The Ultimate Software Group by 118.8% in the first quarter. Jane Street Group LLC now owns 3,089 shares of the technology company’s stock valued at $603,000 after buying an additional 19,508 shares in the last quarter. Swiss National Bank increased its stake in shares of The Ultimate Software Group by 0.4% in the first quarter. Swiss National Bank now owns 45,426 shares of the technology company’s stock valued at $8,868,000 after buying an additional 200 shares in the last quarter. Airain ltd increased its stake in shares of The Ultimate Software Group by 874.0% in the first quarter. Airain ltd now owns 22,168 shares of the technology company’s stock valued at $4,327,000 after buying an additional 19,892 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of The Ultimate Software Group by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,229,152 shares of the technology company’s stock valued at $435,153,000 after buying an additional 109,592 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of 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.

The Ultimate Software Group (ULTI) traded up 2.40% during midday trading on Friday, reaching $195.88. The company’s stock had a trading volume of 544,844 shares. The company’s 50-day moving average price is $210.64 and its 200-day moving average price is $205.70. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $233.42. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 202.15 and a beta of 1.08.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly 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 during the quarter, compared to the consensus estimate of $228.02 million. During the same period in the previous year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts predict that The Ultimate Software Group will post $3.53 earnings per share for the current fiscal year.

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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