The Ultimate Software Group, Inc. (ULTI) Issues Quarterly Earnings Results
The Ultimate Software Group, Inc. (NASDAQ:ULTI) posted its earnings results on Monday. The technology company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.17, Bloomberg Earnings reports. The firm had revenue of $236.11 million for the quarter, compared to analyst estimates of $232.92 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share.
In related 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 value of $924,399.07. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $3,005,850. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert Manne sold 5,000 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 $1,001,950.00. Following the completion of the transaction, 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. 4.90% of the stock is currently owned by company insiders.
Several research analysts have weighed in on ULTI shares. Royal Bank Of Canada reiterated a “buy” rating and set a $216.00 target price on shares of The Ultimate Software Group in a report on Tuesday, October 10th. Canaccord Genuity reduced their target price on The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Zacks Investment Research upgraded The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Deutsche Bank AG lowered The Ultimate Software Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $230.00 to $210.00 in a report on Wednesday, August 2nd. Finally, Roth Capital lifted their target price on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The Ultimate Software Group has an average rating of “Buy” and an average target price of $234.94.
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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