The Ultimate Software Group, Inc. (ULTI) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) from a sell rating to a hold rating in a report published on Wednesday 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 research firms also recently issued reports on ULTI. KeyCorp set a $255.00 price objective on The Ultimate Software Group and gave the company a buy rating in a report on Thursday, July 27th. Roth Capital boosted their price objective on The Ultimate Software Group from $254.00 to $280.00 and gave the company a buy rating in a report on Monday, July 31st. Royal Bank Of Canada cut their price objective 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. Canaccord Genuity cut their price objective 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. Finally, Mizuho reiterated a neutral rating and issued a $200.00 price objective (down previously from $220.00) on shares of The Ultimate Software Group in a report on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The Ultimate Software Group currently has an average rating of Buy and a consensus price target of $235.29.

The Ultimate Software Group (NASDAQ ULTI) opened at 197.92 on Wednesday. The stock’s 50 day moving average price is $191.72 and its 200 day moving average price is $204.93. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 204.25 and a beta of 1.07. The Ultimate Software Group has a 52 week low of $180.29 and a 52 week high of $233.42.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). The firm had revenue of $224.70 million during the quarter, compared to analysts’ expectations of $228.02 million. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The Ultimate Software Group’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, analysts forecast that The Ultimate Software Group will post $3.53 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was stolen and republished in violation of United States & international copyright & trademark law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/14/the-ultimate-software-group-inc-ulti-lifted-to-hold-at-zacks-investment-research.html.

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

Several large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC boosted its position in shares of The Ultimate Software Group by 0.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after acquiring an additional 10 shares in the last quarter. M&T Bank Corp boosted its position in shares of The Ultimate Software Group by 1.0% during the 2nd quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 56 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Ultimate Software Group by 5.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock worth $241,000 after acquiring an additional 57 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of The Ultimate Software Group by 3.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,258 shares of the technology company’s stock worth $474,000 after acquiring an additional 69 shares in the last quarter. Finally, World Asset Management Inc boosted its position in shares of The Ultimate Software Group by 3.7% during the 2nd quarter. World Asset Management Inc now owns 2,122 shares of the technology company’s stock worth $446,000 after acquiring an additional 75 shares in 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 c

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 research firms also recently issued reports on ULTI. KeyCorp set a $255.00 price objective on The Ultimate Software Group and gave the company a buy rating in a report on Thursday, July 27th. Roth Capital boosted their price objective on The Ultimate Software Group from $254.00 to $280.00 and gave the company a buy rating in a report on Monday, July 31st. Royal Bank Of Canada cut their price objective 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. Canaccord Genuity cut their price objective 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. Finally, Mizuho reiterated a neutral rating and issued a $200.00 price objective (down previously from $220.00) on shares of The Ultimate Software Group in a report on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The Ultimate Software Group currently has an average rating of Buy and a consensus price target of $235.29.

The Ultimate Software Group (NASDAQ ULTI) opened at 197.92 on Wednesday. The stock’s 50 day moving average price is $191.72 and its 200 day moving average price is $204.93. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 204.25 and a beta of 1.07. The Ultimate Software Group has a 52 week low of $180.29 and a 52 week high of $233.42.

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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). The firm had revenue of $224.70 million during the quarter, compared to analysts’ expectations of $228.02 million. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The Ultimate Software Group’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, analysts forecast that The Ultimate Software Group will post $3.53 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was stolen and republished in violation of United States & international copyright & trademark law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/14/the-ultimate-software-group-inc-ulti-lifted-to-hold-at-zacks-investment-research.html.

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

Several large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC boosted its position in shares of The Ultimate Software Group by 0.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after acquiring an additional 10 shares in the last quarter. M&T Bank Corp boosted its position in shares of The Ultimate Software Group by 1.0% during the 2nd quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 56 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Ultimate Software Group by 5.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock worth $241,000 after acquiring an additional 57 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of The Ultimate Software Group by 3.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,258 shares of the technology company’s stock worth $474,000 after acquiring an additional 69 shares in the last quarter. Finally, World Asset Management Inc boosted its position in shares of The Ultimate Software Group by 3.7% during the 2nd quarter. World Asset Management Inc now owns 2,122 shares of the technology company’s stock worth $446,000 after acquiring an additional 75 shares in 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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