The Ultimate Software Group, Inc. (ULTI) Given Average Recommendation of “Buy” by Analysts

The Ultimate Software Group, Inc. (NASDAQ:ULTI) has been assigned an average recommendation of “Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $235.31.

A number of brokerages recently issued reports on ULTI. Piper Jaffray Companies restated an “overweight” rating and issued a $250.00 price objective on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of The Ultimate Software Group in a research note on Tuesday, April 25th. Credit Suisse Group reiterated an “outperform” rating and set a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. KeyCorp restated a “buy” rating on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Finally, Stephens restated an “equal weight” rating and issued a $203.00 price objective (down from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd.

In related news, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now owns 78,633 shares in the company, valued at $15,757,266.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $924,399.07. Following the transaction, the director now 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 owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ULTI. NBW Capital LLC increased its position 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 worth $5,317,000 after buying an additional 1,669 shares in the last quarter. Retirement Systems of Alabama increased its position in 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 worth $7,476,000 after buying an additional 848 shares during the period. Conestoga Capital Advisors LLC increased its position 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. Louisiana State Employees Retirement System increased its position in The Ultimate Software Group by 4.2% in the first quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the technology company’s stock worth $1,464,000 after buying an additional 300 shares during the period. Finally, Capstone Asset Management Co. increased its position in The Ultimate Software Group by 7.5% in the first quarter. Capstone Asset Management Co. now owns 3,289 shares of the technology company’s stock worth $642,000 after buying an additional 230 shares during the period.

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The Ultimate Software Group (NASDAQ ULTI) opened at 189.54 on Monday. The company’s 50-day moving average is $214.44 and its 200-day moving average is $205.84. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 195.60 and a beta of 1.08. The Ultimate Software Group has a 52-week low of $180.29 and a 52-week high of $233.42.

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

The Ultimate Software Group Company Profile

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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