The Ultimate Software Group, Inc. (NASDAQ:ULTI)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Thursday, November 2nd. They currently have a $220.00 target price on the technology company’s stock, down from their previous target price of $226.00. Wedbush’s target price would suggest a potential upside of 10.72% from the company’s previous close.
Several other research firms have also issued reports on ULTI. Stifel Nicolaus increased their target price 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. Royal Bank Of Canada restated a “buy” rating and set a $216.00 price target on shares of The Ultimate Software Group in a report on Tuesday, October 10th. Canaccord Genuity cut their price target on The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Zacks Investment Research upgraded The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Deutsche Bank AG downgraded The Ultimate Software Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $230.00 to $210.00 in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $231.58.
Shares of The Ultimate Software Group (ULTI) traded up $0.04 during trading on Thursday, hitting $198.70. The stock had a trading volume of 197,204 shares, compared to its average volume of 319,530. The Ultimate Software Group has a twelve month low of $180.29 and a twelve month high of $233.42. The firm has a market cap of $5,950.00, a price-to-earnings ratio of 188.30, a PEG ratio of 15.33 and a beta of 1.09. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01.
The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The business had revenue of $236.11 million for the quarter, compared to analyst estimates of $232.92 million. During the same quarter in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 19.9% on a year-over-year basis. research analysts expect that The Ultimate Software Group will post 0.63 earnings per share for the current year.
In related news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $206.08, for a total value of $1,030,400.00. Following the completion of the transaction, the vice president now directly owns 76,484 shares of the company’s stock, valued at approximately $15,761,822.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Scott Scherr sold 43,537 shares of the firm’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 completion of the transaction, the chairman now directly owns 426,427 shares of the company’s stock, valued at $83,669,241.67. The disclosure for this sale can be found here. Insiders sold a total of 116,259 shares of company stock valued at $22,912,048 over the last three months. Insiders own 4.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its position in The Ultimate Software Group by 257.4% during the second quarter. Creative Planning now owns 504 shares of the technology company’s stock worth $106,000 after buying an additional 363 shares in the last quarter. Huntington National Bank increased its position in The Ultimate Software Group by 24.7% during the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock worth $180,000 after buying an additional 170 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in The Ultimate Software Group by 23.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock worth $183,000 after buying an additional 164 shares in the last quarter. FineMark National Bank & Trust purchased a new position in The Ultimate Software Group during the second quarter worth $200,000. Finally, ETRADE Capital Management LLC purchased a new position in The Ultimate Software Group during the second quarter worth $201,000.
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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