The Ultimate Software Group, Inc. (NASDAQ:ULTI) had its target price raised by equities researchers at Stifel Nicolaus from $235.00 to $250.00 in a report released on Thursday, November 2nd, MarketBeat reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 26.03% from the company’s previous close.
A number of other research analysts also recently issued reports on ULTI. BidaskClub downgraded The Ultimate Software Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. KeyCorp set a $235.00 price objective on The Ultimate Software Group and gave the company a “buy” rating in a report on Wednesday, August 16th. Royal Bank Of Canada lowered their target price on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Stephens restated an “equal weight” rating and set a $203.00 target price (down from $215.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $225.00 price objective (down from $240.00) on shares of The Ultimate Software Group in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. The Ultimate Software Group has a consensus rating of “Buy” and an average price target of $231.58.
Shares of The Ultimate Software Group (ULTI) traded up $0.37 during midday trading on Thursday, hitting $198.37. The stock had a trading volume of 194,000 shares, compared to its average volume of 321,106. 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 12-month low of $180.29 and a 12-month high of $233.42. The stock has a market capitalization of $5,915.41, a P/E ratio of 188.57, a price-to-earnings-growth ratio of 15.35 and a beta of 1.09.
The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. The firm had revenue of $236.11 million for the quarter, compared to the consensus estimate of $232.92 million. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. research analysts expect that The Ultimate Software Group will post 0.63 EPS for the current year.
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In other The Ultimate Software Group news, Chairman Scott Scherr sold 43,537 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $196.21, for a total value of $8,542,394.77. Following the transaction, the chairman now owns 426,427 shares in the company, valued at approximately $83,669,241.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James A. Fitzpatrick, Jr. sold 4,585 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $205.82, for a total transaction of $943,684.70. Following the transaction, the director now owns 14,650 shares in the company, valued at approximately $3,015,263. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,259 shares of company stock valued at $22,912,048. Insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new stake in The Ultimate Software Group in the 3rd quarter valued at $1,937,000. Granahan Investment Management Inc. MA boosted its holdings in The Ultimate Software Group by 11.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 80,483 shares of the technology company’s stock valued at $15,260,000 after purchasing an additional 8,385 shares during the period. Zions Bancorporation bought a new stake in The Ultimate Software Group in the 3rd quarter valued at $182,000. Janus Henderson Group PLC boosted its holdings in The Ultimate Software Group by 10.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,480,892 shares of the technology company’s stock valued at $470,377,000 after purchasing an additional 235,848 shares during the period. Finally, Jane Street Group LLC boosted its holdings in The Ultimate Software Group by 192.5% in the 3rd quarter. Jane Street Group LLC now owns 6,102 shares of the technology company’s stock valued at $1,157,000 after purchasing an additional 12,702 shares during the period.
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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