The Ultimate Software Group (ULTI) PT Raised to $245.00

The Ultimate Software Group (NASDAQ:ULTI) had its price target hoisted by stock analysts at Canaccord Genuity from $240.00 to $245.00 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price target points to a potential upside of 7.05% from the company’s current price.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus lifted their price target on The Ultimate Software Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. SunTrust Banks reiterated a “buy” rating and set a $225.00 price objective on shares of The Ultimate Software Group in a research report on Friday, November 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $210.00 price objective on shares of The Ultimate Software Group in a research report on Friday, October 20th. BidaskClub upgraded The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Finally, Mizuho upgraded The Ultimate Software Group from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $243.90.

The Ultimate Software Group (ULTI) traded up $6.78 during trading hours on Wednesday, hitting $228.87. The stock had a trading volume of 534,317 shares, compared to its average volume of 322,460. The firm has a market cap of $6,837.72, a P/E ratio of 476.81, a PEG ratio of 7.38 and a beta of 1.07. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a fifty-two week low of $181.59 and a fifty-two week high of $242.93.

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

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

A number of institutional investors and hedge funds have recently bought and sold shares of ULTI. Virtu KCG Holdings LLC purchased a new stake in The Ultimate Software Group in the 2nd quarter valued at about $276,000. Stifel Financial Corp grew its holdings in shares of The Ultimate Software Group by 22.1% during the 2nd quarter. Stifel Financial Corp now owns 9,868 shares of the technology company’s stock worth $2,073,000 after purchasing an additional 1,785 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of The Ultimate Software Group by 0.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after purchasing an additional 10 shares during the period. Shelton Capital Management purchased a new stake in shares of The Ultimate Software Group during the 2nd quarter worth about $452,000. Finally, State Street Corp grew its holdings in shares of The Ultimate Software Group by 1.5% during the 2nd quarter. State Street Corp now owns 756,678 shares of the technology company’s stock worth $158,949,000 after purchasing an additional 11,076 shares during the period.

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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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