The Ultimate Software Group, Inc. (NASDAQ:ULTI)‘s stock had its “buy” rating reaffirmed by stock analysts at SunTrust Banks, Inc. in a note issued to investors on Friday. They presently have a $225.00 price objective on the technology company’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 8.81% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity upped their price target on shares of The Ultimate Software Group from $225.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company reissued an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of The Ultimate Software Group in a report on Thursday. Stifel Nicolaus upped their price target on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada upped their price target on shares of The Ultimate Software Group from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $220.00 price target (down from $226.00) on shares of The Ultimate Software Group in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $234.06.

Shares of The Ultimate Software Group (NASDAQ ULTI) opened at $206.78 on Friday. The firm has a market capitalization of $6,288.81, a price-to-earnings ratio of 200.80, a PEG ratio of 19.60 and a beta of 1.09. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. The business had revenue of $236.11 million during the quarter, compared to the consensus estimate of $232.92 million. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. research analysts predict that The Ultimate Software Group will post 0.54 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in The Ultimate Software Group by 257.4% in the second quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after buying an additional 363 shares during the last quarter. Huntington National Bank boosted its position in The Ultimate Software Group by 24.7% during the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after purchasing an additional 170 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in The Ultimate Software Group by 23.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock worth $183,000 after purchasing an additional 164 shares during the period. FineMark National Bank & Trust bought a new stake in The Ultimate Software Group during the second quarter worth approximately $200,000. Finally, ETRADE Capital Management LLC bought a new stake in The Ultimate Software Group during the second quarter worth approximately $201,000.

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.

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

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