Mizuho Upgrades The Ultimate Software Group (ULTI) to “Buy”

Mizuho upgraded shares of The Ultimate Software Group (NASDAQ:ULTI) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $200.00 price objective on the technology company’s stock.

Several other equities research analysts have also recently weighed in on ULTI. Zacks Investment Research cut The Ultimate Software Group from a hold rating to a sell rating in a research note on Thursday, October 5th. Royal Bank of Canada reissued a buy rating and issued a $216.00 price target on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Wells Fargo & Co reissued an outperform rating and issued a $240.00 price target (up previously from $230.00) on shares of The Ultimate Software Group in a research note on Thursday, November 2nd. Stifel Nicolaus increased their price target on The Ultimate Software Group from $235.00 to $250.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Finally, Wedbush reissued an outperform rating and issued a $220.00 price target (down previously from $226.00) on shares of The Ultimate Software Group in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The Ultimate Software Group currently has an average rating of Buy and a consensus price target of $232.37.

The Ultimate Software Group (ULTI) opened at $227.16 on Monday. The Ultimate Software Group has a fifty-two week low of $181.59 and a fifty-two week high of $233.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $6,740.00, a PE ratio of 234.19, a price-to-earnings-growth ratio of 8.24 and a beta of 1.08.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.17. The company had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $232.92 million. The Ultimate Software Group had a return on equity of 3.69% and a net margin of 1.99%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. equities analysts forecast that The Ultimate Software Group will post 0.63 earnings per share for the current year.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the 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 transaction, the vice president now owns 76,484 shares in the company, valued at $15,761,822.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,585 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $205.82, for a total value of $943,684.70. Following the completion of the transaction, the director now owns 14,650 shares in the company, valued at approximately $3,015,263. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,259 shares of company stock worth $22,912,048. Corporate insiders own 4.90% of the company’s stock.

Large investors have recently made changes to their positions in the business. Westpac Banking Corp boosted its holdings in The Ultimate Software Group by 88.2% in the third quarter. Westpac Banking Corp now owns 25,633 shares of the technology company’s stock worth $4,860,000 after acquiring an additional 12,012 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in The Ultimate Software Group by 2.2% in the second quarter. Principal Financial Group Inc. now owns 123,812 shares of the technology company’s stock worth $26,008,000 after acquiring an additional 2,715 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of 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 in the last quarter. Bank of Nova Scotia bought a new position in shares of The Ultimate Software Group in the second quarter valued at approximately $1,884,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of The Ultimate Software Group by 3.8% in the second quarter. Alliancebernstein L.P. now owns 333,477 shares of the technology company’s stock valued at $70,050,000 after purchasing an additional 12,242 shares in the last quarter.

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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.

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

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