The Ultimate Software Group (ULTI) Cut to Buy at BidaskClub

BidaskClub downgraded shares of The Ultimate Software Group (NASDAQ:ULTI) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

A number of other equities analysts have also commented on ULTI. TheStreet raised The Ultimate Software Group from a c+ rating to a b- rating in a research note on Tuesday, May 1st. Needham & Company LLC upped their price target on The Ultimate Software Group to $280.00 and gave the company a buy rating in a research note on Wednesday, May 2nd. Credit Suisse Group upped their price target on The Ultimate Software Group from $280.00 to $255.00 and gave the company an outperform rating in a research note on Wednesday, May 2nd. Stifel Nicolaus upped their price target on The Ultimate Software Group from $250.00 to $275.00 and gave the company a buy rating in a research note on Wednesday, May 2nd. Finally, Wedbush upped their price target on The Ultimate Software Group from $255.00 to $260.00 and gave the company a neutral rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $253.20.

The Ultimate Software Group stock opened at $254.97 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 314.78, a price-to-earnings-growth ratio of 5.22 and a beta of 0.97. The Ultimate Software Group has a 52 week low of $181.59 and a 52 week high of $282.39.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, May 1st. The technology company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.17. The company had revenue of $277.00 million for the quarter, compared to analyst estimates of $270.80 million. The Ultimate Software Group had a return on equity of 6.24% and a net margin of 2.90%. The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. research analysts anticipate that The Ultimate Software Group will post 2.25 earnings per share for the current year.

In related news, CFO Felicia Alvaro sold 2,000 shares of the company’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $250.84, for a total value of $501,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $247.12, for a total value of $1,235,600.00. Following the completion of the sale, the vice president now owns 68,692 shares of the company’s stock, valued at approximately $16,975,167.04. The disclosure for this sale can be found here. Insiders sold 11,375 shares of company stock valued at $2,819,786 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in The Ultimate Software Group in the first quarter valued at about $234,000. Amalgamated Bank increased its holdings in shares of The Ultimate Software Group by 6.5% in the first quarter. Amalgamated Bank now owns 6,374 shares of the technology company’s stock worth $1,553,000 after acquiring an additional 391 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of The Ultimate Software Group by 6.9% in the first quarter. Principal Financial Group Inc. now owns 126,783 shares of the technology company’s stock worth $30,897,000 after acquiring an additional 8,194 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of The Ultimate Software Group by 23,735.4% in the first quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock worth $116,000 after acquiring an additional 115,354 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of The Ultimate Software Group by 46.9% in the first quarter. Xact Kapitalforvaltning AB now owns 3,758 shares of the technology company’s stock worth $916,000 after acquiring an additional 1,200 shares in the last quarter.

About The Ultimate Software Group

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

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

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