The Ultimate Software Group, Inc. (NASDAQ:ULTI) Given Neutral Rating at Mizuho

Mizuho reiterated their neutral rating on shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in a research report sent to investors on Tuesday, August 1st. They currently have a $200.00 target price on the technology company’s stock, down from their previous target price of $220.00.

“We await commentary on the call regarding the quarter’s performance.”,” Mizuho’s analyst wrote.

Other equities research analysts have also recently issued research reports about the company. Wedbush decreased their price target on The Ultimate Software Group from $240.00 to $236.00 and set an outperform rating for the company in a research note on Wednesday, April 26th. BidaskClub raised The Ultimate Software Group from a buy rating to a strong-buy rating in a research note on Saturday, June 24th. SunTrust Banks, Inc. began coverage on The Ultimate Software Group in a research note on Monday, June 26th. They set a buy rating and a $240.00 target price for the company. Roth Capital raised their target price on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a buy rating in a research note on Monday, July 31st. Finally, Canaccord Genuity reiterated a buy rating and issued a $240.00 price target on shares of The Ultimate Software Group in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The Ultimate Software Group presently has an average rating of Buy and an average target price of $235.67.

The Ultimate Software Group (NASDAQ ULTI) traded up 2.40% during trading on Tuesday, hitting $195.88. 544,844 shares of the stock traded hands. The company has a 50-day moving average price of $210.24 and a 200 day moving average price of $205.72. The stock has a market cap of $5.84 billion, a PE ratio of 202.15 and a beta of 1.08. The Ultimate Software Group has a one year low of $180.29 and a one year high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.03. The company had revenue of $224.70 million during the quarter, compared to analyst estimates of $228.02 million. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. Analysts expect that The Ultimate Software Group will post $3.53 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “The Ultimate Software Group, Inc. (NASDAQ:ULTI) Given Neutral Rating at Mizuho” was originally published by BNB Daily and is the sole property of of BNB Daily. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/mizuho-reaffirms-hold-rating-for-the-ultimate-software-group-inc-nasdaqulti-updated-updated.html.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the completion of the sale, the vice president now owns 78,633 shares of the company’s stock, valued at $15,757,266.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $3,005,850. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of The Ultimate Software Group by 24.1% in the first quarter. Russell Investments Group Ltd. now owns 200,846 shares of the technology company’s stock valued at $39,212,000 after buying an additional 39,052 shares during the period. Profund Advisors LLC raised its stake in shares of The Ultimate Software Group by 11.7% in the first quarter. Profund Advisors LLC now owns 4,059 shares of the technology company’s stock valued at $792,000 after buying an additional 425 shares during the period. NBW Capital LLC raised its stake in shares of The Ultimate Software Group by 6.5% in the first quarter. NBW Capital LLC now owns 27,238 shares of the technology company’s stock valued at $5,317,000 after buying an additional 1,669 shares during the period. Retirement Systems of Alabama raised its stake in shares of The Ultimate Software Group by 2.3% in the first quarter. Retirement Systems of Alabama now owns 38,296 shares of the technology company’s stock valued at $7,476,000 after buying an additional 848 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in The Ultimate Software Group by 154.4% in the first quarter. Conestoga Capital Advisors LLC now owns 5,725 shares of the technology company’s stock worth $1,118,000 after buying an additional 3,475 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.

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

Receive News & Ratings for The Ultimate Software Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply