SunTrust Banks Increases The Ultimate Software Group (ULTI) Price Target to $250.00

The Ultimate Software Group (NASDAQ:ULTI) had its price objective boosted by equities research analysts at SunTrust Banks to $250.00 in a report released on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. SunTrust Banks’ price target would indicate a potential upside of 7.19% from the company’s previous close.

A number of other brokerages have also recently weighed in on ULTI. Royal Bank of Canada restated a “buy” rating and set a $260.00 price objective on shares of The Ultimate Software Group in a research note on Tuesday, January 30th. Wells Fargo & Co reiterated an “outperform” rating and issued a $290.00 price target (up from $240.00) on shares of The Ultimate Software Group in a research report on Wednesday, January 31st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $250.00 price target on shares of The Ultimate Software Group in a research report on Tuesday, January 16th. BidaskClub cut shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Guggenheim reiterated a “buy” rating and issued a $245.00 price target on shares of The Ultimate Software Group in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. The Ultimate Software Group currently has a consensus rating of “Buy” and an average price target of $239.90.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded up $16.64 during midday trading on Wednesday, hitting $233.23. 298,722 shares of the company were exchanged, compared to its average volume of 247,000. The Ultimate Software Group has a fifty-two week low of $181.59 and a fifty-two week high of $242.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6,384.75, a PE ratio of 240.48, a P/E/G ratio of 7.92 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.24. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The business had revenue of $251.43 million for the quarter, compared to analysts’ expectations of $244.83 million. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. analysts expect that The Ultimate Software Group will post 0.63 EPS for the current year.

In other The Ultimate Software Group news, Director Alois T. Leiter sold 5,559 shares of the business’s stock in a transaction dated 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 owns 165,596 shares in the company, valued at approximately $32,814,503.36. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ULTI. Zions Bancorporation purchased a new position in The Ultimate Software Group during the 3rd quarter valued at about $182,000. Banque Pictet & Cie SA purchased a new position in The Ultimate Software Group during the 3rd quarter valued at about $209,000. CIBC Asset Management Inc purchased a new position in The Ultimate Software Group during the 4th quarter valued at about $213,000. FineMark National Bank & Trust purchased a new position in The Ultimate Software Group during the 4th quarter valued at about $217,000. Finally, Nomura Holdings Inc. purchased a new position in The Ultimate Software Group during the 2nd quarter valued at about $229,000.

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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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