The Ultimate Software Group (NASDAQ:ULTI) had its price target upped by Bank of America from $258.00 to $266.00 in a research report report published on Wednesday morning. They currently have an underperform rating on the technology company’s stock.
A number of other equities research analysts have also recently commented on the company. BidaskClub cut The Ultimate Software Group from a strong-buy rating to a buy rating in a research note on Thursday, September 20th. Needham & Company LLC lifted their target price on The Ultimate Software Group to $370.00 and gave the stock a buy rating in a research note on Monday, September 17th. Piper Jaffray Companies reiterated an overweight rating and set a $360.00 target price on shares of The Ultimate Software Group in a research note on Monday, August 27th. Guggenheim began coverage on The Ultimate Software Group in a research note on Monday, August 20th. They set a neutral rating and a $300.00 target price on the stock. Finally, Evercore ISI reiterated a hold rating and set a $290.00 target price on shares of The Ultimate Software Group in a research note on Sunday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $294.70.
Shares of NASDAQ ULTI traded up $2.56 during mid-day trading on Wednesday, reaching $321.39. 2,882 shares of the company’s stock were exchanged, compared to its average volume of 269,504. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 397.07, a PEG ratio of 5.93 and a beta of 1.03. The Ultimate Software Group has a 52 week low of $182.76 and a 52 week high of $332.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 1.14.
The Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, July 31st. The technology company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.04. The company had revenue of $271.16 million for the quarter, compared to analysts’ expectations of $268.84 million. The Ultimate Software Group had a return on equity of 7.74% and a net margin of 3.60%. research analysts expect that The Ultimate Software Group will post 2.24 EPS for the current fiscal year.
In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 505 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $276.70, for a total transaction of $139,733.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Marc D. Scherr sold 10,000 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $279.41, for a total value of $2,794,100.00. Following the transaction, the chairman now directly owns 202,571 shares of the company’s stock, valued at approximately $56,600,363.11. The disclosure for this sale can be found here. Insiders sold a total of 15,505 shares of company stock worth $4,329,184 over the last 90 days. 3.00% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Summit Trail Advisors LLC grew its holdings in The Ultimate Software Group by 23,735.4% during the 1st quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock valued at $116,000 after buying an additional 115,354 shares in the last quarter. We Are One Seven LLC grew its holdings in The Ultimate Software Group by 181.5% during the 1st quarter. We Are One Seven LLC now owns 729 shares of the technology company’s stock valued at $178,000 after buying an additional 470 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in The Ultimate Software Group during the 2nd quarter valued at about $201,000. Reliance Trust Co. of Delaware purchased a new position in The Ultimate Software Group during the 2nd quarter valued at about $202,000. Finally, Alps Advisors Inc. purchased a new position in The Ultimate Software Group during the 2nd quarter valued at about $205,000.
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.
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