The Ultimate Software Group (ULTI) Lowered to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of The Ultimate Software Group (NASDAQ:ULTI) from a sell rating to a strong sell rating in a research note released on Saturday morning, BidAskClub reports.

Several other equities research analysts have also issued reports on the company. William Blair lowered The Ultimate Software Group from an outperform rating to a market perform rating in a research note on Thursday, March 28th. Goldman Sachs Group initiated coverage on The Ultimate Software Group in a research note on Friday, February 1st. They set a neutral rating for the company. Deutsche Bank initiated coverage on The Ultimate Software Group in a research note on Friday, January 25th. They set a buy rating and a $267.32 price target for the company. ValuEngine raised The Ultimate Software Group from a buy rating to a strong-buy rating in a research note on Monday, February 4th. Finally, SunTrust Banks lifted their price target on The Ultimate Software Group to $331.50 in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $314.49.

Shares of ULTI stock opened at $330.35 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.07 and a quick ratio of 1.07. The Ultimate Software Group has a 12-month low of $219.97 and a 12-month high of $365.86. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 138.22, a PEG ratio of 6.49 and a beta of 1.33.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Monday, February 4th. The technology company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $1.37. The Ultimate Software Group had a return on equity of 9.90% and a net margin of 5.71%. The firm had revenue of $304.80 million during the quarter, compared to analyst estimates of $300.60 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s revenue was up 21.2% compared to the same quarter last year. Equities research analysts anticipate that The Ultimate Software Group will post 2.4 earnings per share for the current fiscal year.

In other news, CEO Scott Scherr sold 70,809 shares of the business’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $331.68, for a total value of $23,485,929.12. Following the completion of the sale, the chief executive officer now owns 251,777 shares of the company’s stock, valued at approximately $83,509,395.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Felicia Alvaro sold 3,929 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $331.95, for a total value of $1,304,231.55. Following the completion of the sale, the chief financial officer now directly owns 42,680 shares of the company’s stock, valued at approximately $14,167,626. The disclosure for this sale can be found here. In the last three months, insiders sold 152,522 shares of company stock valued at $50,593,109. 3.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ULTI. Bank of New York Mellon Corp lifted its stake in shares of The Ultimate Software Group by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 358,127 shares of the technology company’s stock valued at $115,385,000 after acquiring an additional 14,923 shares during the last quarter. JPMorgan Chase & Co. raised its position in The Ultimate Software Group by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 87,255 shares of the technology company’s stock valued at $28,113,000 after purchasing an additional 2,481 shares during the last quarter. Paloma Partners Management Co raised its position in The Ultimate Software Group by 157.9% during the 3rd quarter. Paloma Partners Management Co now owns 4,100 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 2,510 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in The Ultimate Software Group by 11.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 51,663 shares of the technology company’s stock valued at $16,646,000 after purchasing an additional 5,349 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in The Ultimate Software Group during the 3rd quarter valued at approximately $472,000. 94.69% of the stock is owned by institutional investors.

About The Ultimate Software Group

The Ultimate Software Group, Inc provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.

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

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