The Ultimate Software Group (NASDAQ:ULTI) had its price objective upped by JMP Securities from $230.00 to $260.00 in a research note released on Tuesday. The brokerage currently has a market outperform rating on the technology company’s stock.
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of The Ultimate Software Group from a hold rating to a buy rating in a report on Monday, April 2nd. BidaskClub upgraded shares of The Ultimate Software Group from a hold rating to a buy rating in a report on Tuesday, March 27th. Wedbush cut shares of The Ultimate Software Group from an outperform rating to a neutral rating and upped their price objective for the stock from $234.00 to $255.00 in a report on Wednesday, March 14th. Bank of America upped their price objective on shares of The Ultimate Software Group from $187.00 to $210.00 and gave the stock an underperform rating in a report on Thursday, February 8th. Finally, Stephens reiterated a hold rating and issued a $240.00 price objective on shares of The Ultimate Software Group in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company. The Ultimate Software Group presently has a consensus rating of Buy and a consensus target price of $245.45.
NASDAQ ULTI opened at $249.01 on Tuesday. The Ultimate Software Group has a 1-year low of $181.59 and a 1-year high of $257.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $7,510.54, a PE ratio of 307.42, a P/E/G ratio of 5.93 and a beta of 0.96.
The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.24. The firm had revenue of $251.43 million during the quarter, compared to analysts’ expectations of $244.83 million. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The Ultimate Software Group’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. sell-side analysts predict that The Ultimate Software Group will post 1.83 EPS for the current year.
In related news, Director Rick Wilber sold 5,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $244.96, for a total value of $1,224,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,230 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $228.63, for a total transaction of $967,104.90. Following the completion of the sale, the director now owns 9,145 shares of the company’s stock, valued at approximately $2,090,821.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,019 shares of company stock valued at $63,840,036. 3.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new stake in shares of The Ultimate Software Group in the fourth quarter valued at about $558,000. William Blair Investment Management LLC lifted its stake in shares of The Ultimate Software Group by 60.3% in the fourth quarter. William Blair Investment Management LLC now owns 378,492 shares of the technology company’s stock valued at $82,598,000 after buying an additional 142,353 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of The Ultimate Software Group in the fourth quarter valued at about $3,919,000. Millennium Management LLC lifted its stake in shares of The Ultimate Software Group by 279.8% in the fourth quarter. Millennium Management LLC now owns 272,126 shares of the technology company’s stock valued at $59,386,000 after buying an additional 200,469 shares during the period. Finally, Meadow Creek Investment Management LLC lifted its stake in shares of The Ultimate Software Group by 18.7% in the fourth quarter. Meadow Creek Investment Management LLC now owns 3,556 shares of the technology company’s stock valued at $776,000 after buying an additional 560 shares during the period.
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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.
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