The Ultimate Software Group (ULTI) Price Target Increased to $235.00 by Analysts at Robert W. Baird

The Ultimate Software Group (NASDAQ:ULTI) had its price target lifted by equities researchers at Robert W. Baird from $210.00 to $235.00 in a report issued on Wednesday. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 2.68% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a “buy” rating and issued a $245.00 target price on shares of The Ultimate Software Group in a report on Thursday, January 11th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a report on Tuesday, January 16th. Citigroup reaffirmed an “overweight” rating and issued a $232.00 target price on shares of The Ultimate Software Group in a report on Wednesday. Wedbush reaffirmed 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. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $255.00 target price (up previously from $245.00) on shares of The Ultimate Software Group in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $243.90.

Shares of The Ultimate Software Group (NASDAQ ULTI) traded up $6.78 on Wednesday, hitting $228.87. 534,317 shares of the stock traded hands, compared to its average volume of 322,460. The firm has a market capitalization of $6,837.72, a PE ratio of 476.81, a PEG ratio of 7.38 and a beta of 1.07. The Ultimate Software Group has a 1-year low of $181.59 and a 1-year high of $242.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.24. The business had revenue of $251.43 million for the quarter, compared to analysts’ expectations of $244.83 million. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. equities research analysts forecast that The Ultimate Software Group will post 1.83 EPS for the current year.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,230 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $228.63, for a total value of $967,104.90. Following the transaction, the director now directly owns 9,145 shares in the company, valued at $2,090,821.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert Manne sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $228.85, for a total transaction of $1,144,250.00. Following the completion of the transaction, the vice president now owns 63,873 shares in the company, valued at $14,617,336.05. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ULTI. Zions Bancorporation purchased a new position in shares of The Ultimate Software Group during the third quarter worth approximately $182,000. Banque Pictet & Cie SA purchased a new position in shares of The Ultimate Software Group during the third quarter worth approximately $209,000. CIBC Asset Management Inc purchased a new position in shares of The Ultimate Software Group during the fourth quarter worth approximately $213,000. FineMark National Bank & Trust purchased a new position in shares of The Ultimate Software Group during the fourth quarter worth approximately $217,000. Finally, Nomura Holdings Inc. purchased a new position in shares of The Ultimate Software Group during the second quarter worth approximately $229,000.

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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.

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

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