The Ultimate Software Group (NASDAQ:ULTI)‘s stock had its “hold” rating reaffirmed by research analysts at Mizuho in a research report issued to clients and investors on Thursday. They currently have a $200.00 price target on the technology company’s stock. Mizuho’s price target would indicate a potential downside of 7.25% from the company’s previous close.
The analysts wrote, “We met with Ultimate’s senior management and walked away more comfortable with its n-t business prospects. Management remains focused on executing on its current plan while enhancing its product portfolio to drive ASPs higher. On the competitive front, the environment remains unchanged with Ultimate continuing to acquire most of its customers from ADP, Paychex, and Ceridian.””
A number of other research firms have also issued reports on ULTI. Stifel Nicolaus raised their price target on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reissued a “buy” rating and set a $216.00 price target on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub raised shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $225.00 price objective on shares of The Ultimate Software Group in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. The Ultimate Software Group presently has a consensus rating of “Buy” and a consensus price target of $231.58.
The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The company had revenue of $236.11 million during the quarter, compared to analyst estimates of $232.92 million. During the same period last year, the firm posted $0.78 EPS. The Ultimate Software Group’s revenue for the quarter was up 19.9% compared to the same quarter last year. equities research analysts anticipate that The Ultimate Software Group will post 0.63 EPS for the current fiscal year.
In related news, Chairman Scott Scherr sold 43,537 shares of The Ultimate Software Group stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $196.21, for a total value of $8,542,394.77. Following the sale, the chairman now owns 426,427 shares of the company’s stock, valued at approximately $83,669,241.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alois T. Leiter sold 5,559 shares of The Ultimate Software Group stock in a transaction 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 sale, the director now directly owns 165,596 shares in the company, valued at approximately $32,814,503.36. The disclosure for this sale can be found here. Insiders sold a total of 116,259 shares of company stock worth $22,912,048 in the last three months. 4.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning boosted its stake 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 purchasing an additional 363 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in The Ultimate Software Group during the 2nd quarter worth $201,000. Zions Bancorporation acquired a new stake in The Ultimate Software Group during the 3rd quarter worth $182,000. Turner Investments LLC boosted its stake 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 purchasing an additional 250 shares during the last quarter. Finally, Eagle Boston Investment Management Inc. acquired a new stake in The Ultimate Software Group during the 2nd quarter worth $218,000.
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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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