Mizuho reaffirmed their hold rating on shares of The Ultimate Software Group (NASDAQ:ULTI) in a research note published on Wednesday. They currently have a $200.00 price target on the technology company’s stock.
“We hosted Ultimate Software for meetings at our annual investment conference. Commentary indicated sustained traction in the enterprise segment of the market as cloud penetration of HCM solutions rises. The company continues to build out its product suite, with incremental modules for non-payroll functionality. To that end, attach rates of non-payroll modules remain steady in both the enterprise and mid-market segments, supporting n-t growth.”,” the firm’s analyst commented.
Several other equities analysts also recently commented on the company. Bank of America started coverage on The Ultimate Software Group in a report on Monday, November 6th. They set an underperform rating and a $187.00 price target on the stock. SunTrust Banks reaffirmed a buy rating and issued a $225.00 price target on shares of The Ultimate Software Group in a report on Friday, November 3rd. Robert W. Baird reissued a hold rating and set a $210.00 price objective on shares of The Ultimate Software Group in a report on Friday, November 3rd. Canaccord Genuity boosted their price objective on The Ultimate Software Group from $225.00 to $240.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Finally, Wedbush restated an outperform rating and set a $220.00 target price (down from $226.00) on shares of The Ultimate Software Group in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $231.58.
The Ultimate Software Group (NASDAQ:ULTI) traded down $0.95 on Wednesday, reaching $207.10. 216,200 shares of the company traded hands, compared to its average volume of 322,325. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a 1 year low of $180.29 and a 1 year high of $233.42. The firm has a market capitalization of $6,215.66, a PE ratio of 198.14, a PEG ratio of 16.13 and a beta of 1.08.
The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results 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 Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The company had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $232.92 million. During the same period last year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. sell-side analysts predict that The Ultimate Software Group will post 0.63 earnings per share for the current year.
In other The Ultimate Software Group news, Chairman Scott Scherr sold 43,537 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $196.21, for a total value of $8,542,394.77. Following the transaction, the chairman now directly owns 426,427 shares of the company’s stock, valued at approximately $83,669,241.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert Manne sold 5,000 shares of the stock in a transaction 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 sale, the vice president now directly owns 76,484 shares in the company, valued at $15,761,822.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,259 shares of company stock worth $22,912,048. 4.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in The Ultimate Software Group by 819.9% in the second quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock valued at $471,594,000 after buying an additional 2,000,984 shares in the last quarter. FMR LLC raised its position in The Ultimate Software Group by 4.9% in the second quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock valued at $812,884,000 after purchasing an additional 180,698 shares during the last quarter. Bamco Inc. NY raised its position in The Ultimate Software Group by 32.6% in the third quarter. Bamco Inc. NY now owns 520,740 shares of the technology company’s stock valued at $98,732,000 after purchasing an additional 128,099 shares during the last quarter. Vanguard Group Inc. raised its position in The Ultimate Software Group by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock valued at $483,258,000 after purchasing an additional 71,422 shares during the last quarter. Finally, Bain Capital Public Equity Management LLC bought a new position in The Ultimate Software Group in the second quarter valued at about $14,984,000.
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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