Q1 2018 Earnings Forecast for The Ultimate Software Group, Inc. (ULTI) Issued By Wedbush

The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Analysts at Wedbush lifted their Q1 2018 earnings per share (EPS) estimates for The Ultimate Software Group in a note issued to investors on Wednesday. Wedbush analyst S. Koenig now expects that the technology company will earn $0.32 per share for the quarter, up from their prior forecast of $0.20. Wedbush has a “Outperform” rating and a $234.00 price objective on the stock. Wedbush also issued estimates for The Ultimate Software Group’s Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.07 EPS and FY2019 earnings at $2.39 EPS.

A number of other analysts also recently issued reports on ULTI. Citigroup reissued an “overweight” rating and issued a $232.00 price objective on shares of The Ultimate Software Group in a report on Wednesday, February 7th. SunTrust Banks boosted their price objective on shares of The Ultimate Software Group to $250.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Canaccord Genuity boosted their price objective on shares of The Ultimate Software Group from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Stephens reissued a “hold” rating and issued a $240.00 price objective on shares of The Ultimate Software Group in a report on Wednesday, February 7th. Finally, Bank of America boosted their price objective on shares of The Ultimate Software Group from $187.00 to $210.00 and gave the company an “underperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $243.90.

Shares of The Ultimate Software Group (NASDAQ:ULTI) opened at $228.87 on Monday. 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 stock has a market cap of $6,837.72, a PE ratio of 476.81, a price-to-earnings-growth ratio of 7.38 and a beta of 1.07. The Ultimate Software Group has a twelve month low of $181.59 and a twelve month high of $242.93.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 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 net margin of 1.59% and a return on equity of 5.31%. The Ultimate Software Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS.

A number of large investors have recently modified their holdings of ULTI. Virtu KCG Holdings LLC bought a new position in The Ultimate Software Group in the 2nd quarter valued at approximately $276,000. Stifel Financial Corp increased its position in The Ultimate Software Group by 22.1% in the 2nd quarter. Stifel Financial Corp now owns 9,868 shares of the technology company’s stock valued at $2,073,000 after acquiring an additional 1,785 shares during the period. Balyasny Asset Management LLC increased its position in The Ultimate Software Group by 0.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock valued at $350,000 after acquiring an additional 10 shares during the period. State Street Corp increased its position in The Ultimate Software Group by 1.5% in the 2nd quarter. State Street Corp now owns 756,678 shares of the technology company’s stock valued at $158,949,000 after acquiring an additional 11,076 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in The Ultimate Software Group by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,615 shares of the technology company’s stock valued at $9,161,000 after acquiring an additional 813 shares during the period.

In related 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 completion of the transaction, the director now owns 9,145 shares of the company’s stock, valued at approximately $2,090,821.35. The sale was disclosed in a legal filing with the SEC, which is available 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 directly owns 63,873 shares of the company’s stock, valued at approximately $14,617,336.05. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

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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.

Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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