Zacks Investment Research Lowers The Ultimate Software Group, Inc. (ULTI) to Sell

Zacks Investment Research lowered shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) from a hold rating to a sell rating in a research note published on Thursday morning.

According to Zacks, “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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

Several other analysts have also weighed in on the stock. Credit Suisse Group reaffirmed a buy rating on shares of The Ultimate Software Group in a report on Monday, July 3rd. Piper Jaffray Companies reaffirmed an overweight rating and set a $250.00 price objective on shares of The Ultimate Software Group in a report on Saturday, July 22nd. ValuEngine raised shares of The Ultimate Software Group from a sell rating to a hold rating in a report on Friday, September 1st. SunTrust Banks, Inc. started coverage on shares of The Ultimate Software Group in a report on Monday, June 26th. They set a buy rating and a $240.00 price objective for the company. Finally, Pacific Crest reaffirmed an overweight rating and set a $255.00 price objective (up previously from $240.00) on shares of The Ultimate Software Group in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $235.29.

The Ultimate Software Group (NASDAQ:ULTI) opened at 194.81 on Thursday. The company has a 50-day moving average price of $191.98 and a 200-day moving average price of $204.81. The Ultimate Software Group has a one year low of $180.29 and a one year high of $233.42. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 201.04 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). The firm had revenue of $224.70 million for the quarter, compared to analyst estimates of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 EPS. Equities research analysts anticipate that The Ultimate Software Group will post $3.53 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/09/zacks-investment-research-lowers-the-ultimate-software-group-inc-ulti-to-sell.html.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the sale, the vice president now owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $924,399.07. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $3,005,850. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in The Ultimate Software Group by 4.9% during the 2nd quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock worth $812,884,000 after acquiring an additional 180,698 shares during the period. BlackRock Inc. grew its holdings in The Ultimate Software Group by 1.4% during the 2nd quarter. BlackRock Inc. now owns 2,421,091 shares of the technology company’s stock worth $508,574,000 after acquiring an additional 32,430 shares during the period. Vanguard Group Inc. grew its holdings in The Ultimate Software Group by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock worth $483,258,000 after acquiring an additional 71,422 shares during the period. Janus Henderson Group PLC grew its holdings in The Ultimate Software Group by 819.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after acquiring an additional 2,000,984 shares during the period. Finally, Harbour Capital Advisors LLC grew its holdings in The Ultimate Software Group by 20,578.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after acquiring an additional 1,121,522 shares during the period.

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 wi

According to Zacks, “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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

Several other analysts have also weighed in on the stock. Credit Suisse Group reaffirmed a buy rating on shares of The Ultimate Software Group in a report on Monday, July 3rd. Piper Jaffray Companies reaffirmed an overweight rating and set a $250.00 price objective on shares of The Ultimate Software Group in a report on Saturday, July 22nd. ValuEngine raised shares of The Ultimate Software Group from a sell rating to a hold rating in a report on Friday, September 1st. SunTrust Banks, Inc. started coverage on shares of The Ultimate Software Group in a report on Monday, June 26th. They set a buy rating and a $240.00 price objective for the company. Finally, Pacific Crest reaffirmed an overweight rating and set a $255.00 price objective (up previously from $240.00) on shares of The Ultimate Software Group in a report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $235.29.

The Ultimate Software Group (NASDAQ:ULTI) opened at 194.81 on Thursday. The company has a 50-day moving average price of $191.98 and a 200-day moving average price of $204.81. The Ultimate Software Group has a one year low of $180.29 and a one year high of $233.42. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 201.04 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). The firm had revenue of $224.70 million for the quarter, compared to analyst estimates of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 EPS. Equities research analysts anticipate that The Ultimate Software Group will post $3.53 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/09/zacks-investment-research-lowers-the-ultimate-software-group-inc-ulti-to-sell.html.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the sale, the vice president now owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $924,399.07. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $3,005,850. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in The Ultimate Software Group by 4.9% during the 2nd quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock worth $812,884,000 after acquiring an additional 180,698 shares during the period. BlackRock Inc. grew its holdings in The Ultimate Software Group by 1.4% during the 2nd quarter. BlackRock Inc. now owns 2,421,091 shares of the technology company’s stock worth $508,574,000 after acquiring an additional 32,430 shares during the period. Vanguard Group Inc. grew its holdings in The Ultimate Software Group by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock worth $483,258,000 after acquiring an additional 71,422 shares during the period. Janus Henderson Group PLC grew its holdings in The Ultimate Software Group by 819.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after acquiring an additional 2,000,984 shares during the period. Finally, Harbour Capital Advisors LLC grew its holdings in The Ultimate Software Group by 20,578.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock worth $5,365,000 after acquiring an additional 1,121,522 shares during the period.

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.

Get a free copy of the Zacks research report on The Ultimate Software Group (ULTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for The Ultimate Software Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply