The Ultimate Software Group, Inc. (ULTI) Price Target Increased to $220.00 by Analysts at Royal Bank Of Canada

The Ultimate Software Group, Inc. (NASDAQ:ULTI) had its price target upped by research analysts at Royal Bank Of Canada from $210.00 to $220.00 in a research report issued to clients and investors on Thursday, November 2nd, Marketbeat reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 10.72% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Roth Capital raised their target price on shares of The Ultimate Software Group from $254.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $235.00 target price on shares of The Ultimate Software Group in a research note on Friday, July 28th. KeyCorp set a $255.00 target price on shares of The Ultimate Software Group and gave the company a “buy” rating in a research note on Thursday, July 27th. Canaccord Genuity lowered their target price on shares of The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Finally, Stephens restated an “equal weight” rating and issued a $203.00 price target (down from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $231.58.

The Ultimate Software Group (NASDAQ:ULTI) traded up $0.04 during trading on Thursday, hitting $198.70. 197,204 shares of the stock were exchanged, compared to its average volume of 319,530. The company has a market cap of $5,950.00, a P/E ratio of 188.30, a P/E/G ratio of 15.33 and a beta of 1.09. 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 $180.29 and a fifty-two week high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $232.92 million. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The Ultimate Software Group’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. equities research analysts anticipate that The Ultimate Software Group will post 0.63 EPS for the current year.

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In other news, CFO Mitchell K. Dauerman sold 15,480 shares of The Ultimate Software Group stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $196.00, for a total transaction of $3,034,080.00. Following the completion of the sale, the chief financial officer now owns 122,045 shares in the company, valued at approximately $23,920,820. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Scott Scherr sold 43,537 shares of The Ultimate Software Group stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $196.21, for a total transaction of $8,542,394.77. Following the sale, the chairman now owns 426,427 shares of the company’s stock, valued at approximately $83,669,241.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,259 shares of company stock valued at $22,912,048. Insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ULTI. Teachers Advisors LLC grew its holdings in The Ultimate Software Group by 2.3% during the first quarter. Teachers Advisors LLC now owns 66,325 shares of the technology company’s stock valued at $12,947,000 after purchasing an additional 1,509 shares during the period. Legal & General Group Plc grew its holdings in The Ultimate Software Group by 126.6% during the first quarter. Legal & General Group Plc now owns 18,648 shares of the technology company’s stock valued at $3,640,000 after purchasing an additional 10,420 shares during the period. Dimensional Fund Advisors LP grew its holdings in The Ultimate Software Group by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 74,444 shares of the technology company’s stock valued at $14,532,000 after purchasing an additional 260 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in The Ultimate Software Group by 11.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 83,068 shares of the technology company’s stock valued at $16,216,000 after purchasing an additional 8,668 shares during the period. Finally, State Street Corp grew its holdings in The Ultimate Software Group by 3.6% during the first quarter. State Street Corp now owns 745,602 shares of the technology company’s stock valued at $145,553,000 after purchasing an additional 25,767 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.

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

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