The Ultimate Software Group, Inc. (ULTI) Downgraded by Zacks Investment Research to Sell

The Ultimate Software Group, Inc. (NASDAQ:ULTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, October 19th.

According to Zacks, “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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

A number of other research analysts also recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $216.00 target price on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. ValuEngine upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of The Ultimate Software Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. KeyCorp set a $235.00 price target on shares of The Ultimate Software Group and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Credit Suisse Group restated an “outperform” rating and set a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $234.94.

The Ultimate Software Group (NASDAQ:ULTI) opened at 197.75 on Thursday. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 204.08 and a beta of 1.07. The company’s 50-day moving average price is $190.85 and its 200-day moving average price is $204.88. 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 released its earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share 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 company had revenue of $224.70 million for the quarter, compared to the consensus estimate of $228.02 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Analysts predict that The Ultimate Software Group will post $3.53 EPS for the current year.

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In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $1,001,950.00. Following the sale, the vice president now owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of The Ultimate Software Group by 257.4% during the 2nd quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after purchasing an additional 363 shares in the last quarter. Huntington National Bank boosted its stake in shares of The Ultimate Software Group by 24.7% during the 2nd quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after purchasing an additional 170 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of The Ultimate Software Group by 23.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock valued at $183,000 after purchasing an additional 164 shares in the last quarter. FineMark National Bank & Trust bought a new stake in shares of The Ultimate Software Group during the 2nd quarter valued at about $200,000. Finally, ETRADE Capital Management LLC bought a new stake in shares of The Ultimate Software Group during the 2nd quarter valued at about $201,000.

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.

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