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

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. “

ULTI has been the subject of a number of other research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $216.00 target price on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. Credit Suisse Group reiterated a “buy” rating on shares of The Ultimate Software Group in a research report on Monday, July 3rd. Piper Jaffray Companies reiterated an “overweight” rating and set a $250.00 target price on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. BidaskClub lowered shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. The Ultimate Software Group currently has a consensus rating of “Buy” and an average price target of $234.94.

The Ultimate Software Group (NASDAQ ULTI) traded up 1.04% during mid-day trading on Thursday, reaching $193.42. 277,296 shares of the company’s stock were exchanged. The company has a 50-day moving average of $191.05 and a 200-day moving average of $204.87. The Ultimate Software Group has a 52-week low of $180.29 and a 52-week high of $233.42. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 199.61 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The business had revenue of $224.70 million for the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The Ultimate Software Group’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Equities research analysts anticipate that The Ultimate Software Group will post $3.53 earnings per share for the current year.

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In related 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at $3,005,850. The sale was disclosed in a legal 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 shares were 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 $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 made changes to their positions in ULTI. BlackRock Inc. raised its stake in The Ultimate Software Group by 13,409.8% in the first quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock valued at $466,292,000 after purchasing an additional 2,370,980 shares in the last quarter. Janus Henderson Group PLC raised its stake in The Ultimate Software Group by 819.9% in the second quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock valued at $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 second quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock valued at $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 4.9% in the second quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock valued at $812,884,000 after purchasing an additional 180,698 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in The Ultimate Software Group by 15.9% in the first quarter. Janus Capital Management LLC now owns 903,969 shares of the technology company’s stock valued at $176,458,000 after purchasing an additional 123,801 shares in the last quarter.

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.

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

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