Brokerages Set The Ultimate Software Group, Inc. (ULTI) Price Target at $243.90

The Ultimate Software Group, Inc. (NASDAQ:ULTI) has been assigned an average recommendation of “Buy” from the twenty-four ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $243.90.

Several analysts have recently weighed in on ULTI shares. SunTrust Banks reissued a “buy” rating and issued a $225.00 price target on shares of The Ultimate Software Group in a research note on Friday, November 3rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $210.00 price objective on shares of The Ultimate Software Group in a research report on Friday, October 20th. Canaccord Genuity increased their price objective on shares of The Ultimate Software Group from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Stifel Nicolaus increased their price objective on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, BidaskClub raised shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $228.85, for a total value of $1,144,250.00. Following the completion of the transaction, the vice president now owns 63,873 shares of the company’s stock, valued at approximately $14,617,336.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Marc D. Scherr sold 32,156 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $222.36, for a total transaction of $7,150,208.16. Following the completion of the transaction, the chief operating officer now directly owns 304,939 shares of the company’s stock, valued at approximately $67,806,236.04. The disclosure for this sale can be found here. Insiders sold a total of 279,019 shares of company stock valued at $62,615,236 in the last three months. 4.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ULTI. Balyasny Asset Management LLC raised its holdings in shares of The Ultimate Software Group by 0.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock valued at $350,000 after purchasing an additional 10 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of The Ultimate Software Group by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,893 shares of the technology company’s stock valued at $1,868,000 after purchasing an additional 172 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of The Ultimate Software Group by 2.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 10,955 shares of the technology company’s stock valued at $2,077,000 after purchasing an additional 288 shares in the last quarter. DF Dent & Co. Inc. raised its holdings in shares of The Ultimate Software Group by 12.3% in the 3rd quarter. DF Dent & Co. Inc. now owns 2,787 shares of the technology company’s stock valued at $528,000 after purchasing an additional 305 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of The Ultimate Software Group by 5.6% in the 4th quarter. Amalgamated Bank now owns 5,983 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 316 shares in the last quarter.

The Ultimate Software Group (NASDAQ:ULTI) traded up $8.82 during trading on Friday, hitting $239.77. 346,036 shares of the stock traded hands, compared to its average volume of 321,966. The Ultimate Software Group has a twelve month low of $181.59 and a twelve month high of $242.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $6,721.16, a PE ratio of 481.15, a price-to-earnings-growth ratio of 5.56 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.24. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The business had revenue of $251.43 million during the quarter, compared to analysts’ expectations of $244.83 million. During the same quarter in the prior year, the company posted $0.91 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. research analysts forecast that The Ultimate Software Group will post 1.83 earnings per share for the current year.

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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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