The Ultimate Software Group, Inc. (NASDAQ:ULTI)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Thursday. They currently have a $220.00 target price on the technology company’s stock, down from their previous target price of $226.00. Wedbush’s price target points to a potential upside of 8.59% from the stock’s previous close.

ULTI has been the subject of several other research reports. Zacks Investment Research raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $216.00 price objective on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. BidaskClub raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $235.47.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.17. The firm had revenue of $236.11 million during the quarter, compared to the consensus estimate of $232.92 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share.

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A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings 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 acquiring an additional 180,698 shares during the last quarter. BlackRock Inc. boosted its holdings in The Ultimate Software Group by 1.4% in the second quarter. BlackRock Inc. now owns 2,421,091 shares of the technology company’s stock valued at $508,574,000 after acquiring an additional 32,430 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of The Ultimate Software Group by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock worth $483,258,000 after buying an additional 71,422 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of The Ultimate Software Group by 819.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after buying an additional 2,000,984 shares in the last quarter. Finally, Harbour Capital Advisors LLC boosted its holdings in shares of The Ultimate Software Group by 20,578.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after buying an additional 1,121,522 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.

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

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