The Ultimate Software Group, Inc. (NASDAQ:ULTI) had its price objective upped by Canaccord Genuity from $225.00 to $240.00 in a research report released on Thursday, November 2nd. Canaccord Genuity currently has a buy rating on the technology company’s stock.
Several other equities research analysts have also commented on the company. KeyCorp set a $255.00 price objective on The Ultimate Software Group and gave the stock a buy rating in a research note on Thursday, July 27th. Roth Capital boosted their price objective on shares of The Ultimate Software Group from $254.00 to $280.00 and gave the stock a buy rating in a report on Monday, July 31st. Credit Suisse Group reissued an outperform rating and issued a $245.00 target price (down previously from $260.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Stephens reissued an equal weight rating and issued a $203.00 target price (down previously from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG downgraded shares of The Ultimate Software Group from a buy rating to a hold rating and dropped their target price for the stock from $230.00 to $210.00 in a research report on Wednesday, August 2nd. One 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 stock has a consensus rating of Buy and an average target price 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 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 has a 12-month low of $180.29 and a 12-month high of $233.42. 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 (NASDAQ:ULTI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. The company 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 Ultimate Software Group’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. research analysts expect that The Ultimate Software Group will post 0.63 EPS for the current year.
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In related news, Chairman Scott Scherr sold 43,537 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $196.21, for a total transaction of $8,542,394.77. Following the completion of the sale, the chairman now owns 426,427 shares in the company, valued at approximately $83,669,241.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mitchell K. Dauerman sold 15,480 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $196.00, for a total transaction of $3,034,080.00. Following the sale, the chief financial officer now owns 122,045 shares of the company’s stock, valued at approximately $23,920,820. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,259 shares of company stock valued at $22,912,048. Corporate insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Westpac Banking Corp increased its position in The Ultimate Software Group by 88.2% in the 3rd quarter. Westpac Banking Corp now owns 25,633 shares of the technology company’s stock valued at $4,860,000 after acquiring an additional 12,012 shares in the last quarter. Principal Financial Group Inc. increased its position in The Ultimate Software Group by 2.2% in the 2nd quarter. Principal Financial Group Inc. now owns 123,812 shares of the technology company’s stock valued at $26,008,000 after acquiring an additional 2,715 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of The Ultimate Software Group by 3.8% in the 2nd quarter. Alliancebernstein L.P. now owns 333,477 shares of the technology company’s stock valued at $70,050,000 after purchasing an additional 12,242 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of The Ultimate Software Group in the 2nd quarter valued at about $1,884,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of The Ultimate Software Group by 71.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,207 shares of the technology company’s stock valued at $2,354,000 after purchasing an additional 4,668 shares during the last quarter.
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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