The Ultimate Software Group’s (ULTI) Hold Rating Reaffirmed at Mizuho
The Ultimate Software Group (NASDAQ:ULTI)‘s stock had its “hold” rating reiterated by investment analysts at Mizuho in a report released on Wednesday. They currently have a $200.00 price objective on the technology company’s stock. Mizuho’s price target points to a potential downside of 3.43% from the company’s current price.
The analysts wrote, “We hosted Ultimate Software for meetings at our annual investment conference. Commentary indicated sustained traction in the enterprise segment of the market as cloud penetration of HCM solutions rises. The company continues to build out its product suite, with incremental modules for non-payroll functionality. To that end, attach rates of non-payroll modules remain steady in both the enterprise and mid-market segments, supporting n-t growth.””
Other equities research analysts also recently issued reports about the company. KeyCorp set a $235.00 price objective on The Ultimate Software Group and gave the stock a “buy” rating in a report on Wednesday, August 16th. Canaccord Genuity restated a “buy” rating and set a $225.00 price objective (down from $240.00) on shares of The Ultimate Software Group in a report on Tuesday, August 8th. Royal Bank Of Canada restated a “buy” rating and set a $216.00 price objective on shares of The Ultimate Software Group in a report on Tuesday, October 10th. Stifel Nicolaus lifted their price objective on The Ultimate Software Group from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, SunTrust Banks restated a “buy” rating and set a $225.00 price objective on shares of The Ultimate Software Group in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $231.58.
The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $232.92 million. During the same period last year, the business posted $0.78 EPS. The company’s revenue was up 19.9% on a year-over-year basis. equities research analysts expect that The Ultimate Software Group will post 0.63 EPS for the current year.
In related news, Director Alois T. Leiter sold 5,559 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $198.16, for a total transaction of $1,101,571.44. Following the completion of the transaction, the director now owns 165,596 shares in the company, valued at approximately $32,814,503.36. The transaction 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 business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $206.08, for a total value of $1,030,400.00. Following the transaction, the vice president now owns 76,484 shares of the company’s stock, valued at approximately $15,761,822.72. The disclosure for this sale can be found here. Insiders have sold a total of 116,259 shares of company stock valued at $22,912,048 in the last 90 days. Insiders own 4.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Creative Planning boosted its position in The Ultimate Software Group by 257.4% during the 2nd quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after acquiring an additional 363 shares during the period. Zions Bancorporation acquired a new position in The Ultimate Software Group during the 3rd quarter worth $182,000. ETRADE Capital Management LLC acquired a new position in The Ultimate Software Group during the 2nd quarter worth $201,000. Banque Pictet & Cie SA acquired a new position in The Ultimate Software Group during the 3rd quarter worth $209,000. Finally, Turner Investments LLC boosted its position in The Ultimate Software Group by 33.3% during the 2nd quarter. Turner Investments LLC now owns 1,000 shares of the technology company’s stock worth $210,000 after acquiring an additional 250 shares during the period.
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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