Zacks Investment Research upgraded shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) from a sell rating to a hold rating in a report issued on Tuesday, October 31st.
According to Zacks, “Ultimate Software is a leading provider of cloud-based human capital management solutions, with more than 33 million people records in the cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. In 2017, Ultimate ranked #7 on Fortune’s 100 Best Companies to Work For list, its sixth consecutive year in the top 25; #7 on Forbes’ list of 100 Most Innovative Growth Companies; #2 on People’s 50 Companies That Care list; and the National Customer Service Association named Ultimate Service Organization of the Year in the Large-Business category. Ultimate has more than 3,700 customers with employees in 160 countries, including Bloomin’ Brands, Culligan International, Feeding America, Major League Baseball, Red Roof Inn, SUBWAY, Texas Roadhouse, and Yamaha Corporation of America. “
A number of other research analysts have also recently weighed in on ULTI. Credit Suisse Group reaffirmed a buy rating on shares of The Ultimate Software Group in a research report on Monday, July 3rd. Piper Jaffray Companies reissued an overweight rating and issued a $250.00 price target on shares of The Ultimate Software Group in a report on Saturday, July 22nd. KeyCorp set a $255.00 price target on The Ultimate Software Group and gave the stock a buy rating in a report on Thursday, July 27th. Stifel Nicolaus reissued a buy rating and issued a $235.00 price target on shares of The Ultimate Software Group in a report on Friday, July 28th. Finally, Roth Capital boosted their price target on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a buy rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $231.58.
The Ultimate Software Group (NASDAQ ULTI) traded up $1.49 during mid-day trading on Tuesday, hitting $198.40. The stock had a trading volume of 293,100 shares, compared to its average volume of 367,031. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $233.42. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5,927.40, a PE ratio of 188.95, a P/E/G ratio of 15.38 and a beta of 1.09.
The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $232.92 million. During the same period in the previous year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. equities analysts forecast that The Ultimate Software Group will post 0.63 earnings per share for the current year.
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In related news, VP Gregory Swick sold 12,106 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $196.10, for a total transaction of $2,373,986.60. Following the completion of the sale, the vice president now directly owns 29,381 shares in the company, valued at approximately $5,761,614.10. The sale was disclosed in a document filed 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 shares were sold at an average price of $196.00, for a total value of $3,034,080.00. Following the completion of the sale, the chief financial officer now owns 122,045 shares of the company’s stock, valued at $23,920,820. The disclosure for this sale can be found here. Insiders sold a total of 110,700 shares of company stock worth $21,810,476 in the last ninety days. 4.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management LLC grew its holdings in The Ultimate Software Group by 0.6% during the second 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 during the period. M&T Bank Corp grew its holdings in The Ultimate Software Group by 1.0% in the second quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock valued at $1,184,000 after purchasing an additional 56 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Ultimate Software Group by 5.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock valued at $241,000 after purchasing an additional 57 shares during the period. Teacher Retirement System of Texas grew its holdings in The Ultimate Software Group by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 2,258 shares of the technology company’s stock valued at $474,000 after purchasing an additional 69 shares during the period. Finally, World Asset Management Inc grew its holdings in The Ultimate Software Group by 3.7% in the second quarter. World Asset Management Inc now owns 2,122 shares of the technology company’s stock valued at $446,000 after purchasing an additional 75 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.
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