Equities analysts expect that The Ultimate Software Group, Inc. (NASDAQ:ULTI) will post $232.68 million in sales for the current quarter, according to Zacks. Eleven analysts have made estimates for The Ultimate Software Group’s earnings, with the lowest sales estimate coming in at $231.00 million and the highest estimate coming in at $234.31 million. The Ultimate Software Group posted sales of $196.99 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.1%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that The Ultimate Software Group will report full-year sales of $232.68 million for the current year, with estimates ranging from $930.70 million to $966.08 million. For the next year, analysts anticipate that the firm will post sales of $1.13 billion per share, with estimates ranging from $1.10 billion to $1.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover The Ultimate Software Group.

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 (EPS) 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 business had revenue of $224.70 million during the quarter, compared to analyst estimates of $228.02 million. During the same period in the previous year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis.

A number of research analysts recently weighed in on ULTI shares. Zacks Investment Research raised shares of The Ultimate Software Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Credit Suisse Group reaffirmed a “buy” rating on shares of The Ultimate Software Group in a research report on Monday, July 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. SunTrust Banks, Inc. started coverage on shares of The Ultimate Software Group in a research report on Monday, June 26th. They issued a “buy” rating and a $240.00 target price for the company. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $255.00 target price (up previously from $240.00) on shares of The Ultimate Software Group in a research report on Monday, June 26th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $235.67.

Shares of The Ultimate Software Group (NASDAQ ULTI) opened at 190.92 on Friday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 197.03 and a beta of 1.09. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $233.42. The company has a 50 day moving average of $203.05 and a 200 day moving average of $205.90.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $3,005,850. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert Manne sold 5,000 shares of the firm’s 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 sale, the vice president now owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ULTI. BlackRock Inc. lifted its stake in shares of The Ultimate Software Group by 13,409.8% during the 1st quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock worth $466,292,000 after buying an additional 2,370,980 shares during the last quarter. Janus Henderson Group PLC raised its stake in The Ultimate Software Group by 819.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after purchasing an additional 2,000,984 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in The Ultimate Software Group by 20,578.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after purchasing an additional 1,121,522 shares in the last quarter. FMR LLC raised its stake in The Ultimate Software Group by 11.3% in the 1st quarter. FMR LLC now owns 3,689,071 shares of the technology company’s stock worth $720,143,000 after purchasing an additional 374,243 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in The Ultimate Software Group by 11.2% in the 1st quarter. Wellington Management Group LLP now owns 1,454,994 shares of the technology company’s stock worth $284,029,000 after purchasing an additional 146,312 shares in the last quarter.

TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Expect The Ultimate Software Group, Inc. (ULTI) Will Announce Quarterly Sales of $232.68 Million” was reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2017/09/09/zacks-brokerages-expect-the-ultimate-software-group-inc-ulti-will-announce-quarterly-sales-of-232-68-million-2.html.

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.

Get a free copy of the Zacks research report on The Ultimate Software Group (ULTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.