The Ultimate Software Group, Inc. (NASDAQ:ULTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

A number of other research firms have also recently commented on ULTI. KeyCorp set a $255.00 target price on The Ultimate Software Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Roth Capital raised their target price on The Ultimate Software Group from $254.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Royal Bank Of Canada dropped their target price on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Canaccord Genuity dropped their target price on The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Finally, Mizuho restated a “neutral” rating and set a $200.00 target price (down from $220.00) on shares of The Ultimate Software Group in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The Ultimate Software Group presently has an average rating of “Buy” and a consensus target price of $235.29.

Shares of The Ultimate Software Group (ULTI) traded up 0.45% during mid-day trading on Wednesday, hitting $195.43. The company had a trading volume of 92,133 shares. The company has a 50-day moving average price of $191.86 and a 200-day moving average price of $205.03. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 201.47 and a beta of 1.07. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.18 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $228.02 million. During the same quarter last year, the business earned $0.76 earnings per share. The Ultimate Software Group’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that The Ultimate Software Group will post $3.53 EPS for the current year.

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In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the firm’s 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 $924,399.07. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $3,005,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 78,633 shares in the company, valued at $15,757,266.87. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ULTI. Eagle Asset Management lifted its stake in The Ultimate Software Group by 75.5% in the 3rd quarter. Eagle Asset Management now owns 1,301,370 shares of the technology company’s stock worth $232,958,000 after purchasing an additional 559,668 shares in the last quarter. Janus Capital Management lifted its stake in The Ultimate Software Group by 19.2% in the 3rd quarter. Janus Capital Management now owns 1,091,676 shares of the technology company’s stock worth $195,427,000 after purchasing an additional 176,133 shares in the last quarter. Benjamin F. Edwards & Company purchased a new position in The Ultimate Software Group in the 4th quarter worth approximately $0. GW&K Investment Management lifted its stake in The Ultimate Software Group by 1.1% in the 4th quarter. GW&K Investment Management now owns 40,658 shares of the technology company’s stock worth $7,949,000 after purchasing an additional 453 shares in the last quarter. Finally, Magee Thomson Investment Partners LLC lifted its stake in The Ultimate Software Group by 1.1% in the 4th quarter. Magee Thomson Investment Partners LLC now owns 78,800 shares of the technology company’s stock worth $15,406,000 after purchasing an additional 870 shares in 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.

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Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

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