The Ultimate Software Group (ULTI) Price Target Increased to $210.00 by Analysts at Bank of America

The Ultimate Software Group (NASDAQ:ULTI) had its target price boosted by equities researchers at Bank of America from $187.00 to $210.00 in a report issued on Thursday. The brokerage currently has an “underperform” rating on the technology company’s stock. Bank of America’s target price points to a potential downside of 6.52% from the company’s previous close.

A number of other research analysts have also issued reports on ULTI. Wedbush reissued an “outperform” rating and issued a $234.00 target price (up previously from $226.00) on shares of The Ultimate Software Group in a report on Wednesday. SunTrust Banks boosted their target price on The Ultimate Software Group to $250.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity boosted their target price on The Ultimate Software Group from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reissued a “buy” rating and issued a $260.00 target price on shares of The Ultimate Software Group in a report on Tuesday, January 30th. Finally, Citigroup reissued an “overweight” rating and issued a $232.00 target price on shares of The Ultimate Software Group in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $244.19.

The Ultimate Software Group (ULTI) traded down $7.53 during trading hours on Thursday, hitting $224.64. The stock had a trading volume of 229,661 shares, compared to its average volume of 282,311. The firm has a market capitalization of $6,470.80, a price-to-earnings ratio of 468.00, a P/E/G ratio of 8.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.18 and a current ratio of 1.18. The Ultimate Software Group has a 1-year low of $181.59 and a 1-year high of $242.93.

The Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.24. The business had revenue of $251.43 million for the quarter, compared to analyst estimates of $244.83 million. The Ultimate Software Group had a return on equity of 5.39% and a net margin of 1.59%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. analysts expect that The Ultimate Software Group will post 1.32 earnings per share for the current fiscal year.

In related news, Director Alois T. Leiter sold 5,559 shares of the company’s 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 transaction, the director now owns 165,596 shares of the company’s stock, valued at $32,814,503.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ULTI. BlackRock Inc. boosted its position in The Ultimate Software Group by 13,409.8% during the first quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock worth $466,292,000 after purchasing an additional 2,370,980 shares in the last quarter. Janus Henderson Group PLC boosted its position in The Ultimate Software Group by 819.9% during the second quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after purchasing an additional 2,000,984 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in The Ultimate Software Group by 20,578.4% during the second quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after purchasing an additional 1,121,522 shares in the last quarter. Victory Capital Management Inc. boosted its position in The Ultimate Software Group by 15,703.9% during the third quarter. Victory Capital Management Inc. now owns 611,610 shares of the technology company’s stock worth $125,007,000 after purchasing an additional 607,740 shares in the last quarter. Finally, Eagle Asset Management boosted its position in The Ultimate Software Group by 75.5% during the third quarter. Eagle Asset Management now owns 1,301,370 shares of the technology company’s stock worth $232,958,000 after purchasing an additional 559,668 shares in the last quarter.

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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.

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

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