The Ultimate Software Group (NASDAQ:ULTI) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of The Ultimate Software Group (NASDAQ:ULTI) in a research note published on Wednesday, February 7th. The brokerage currently has a $234.00 price target on the technology company’s stock, up from their prior price target of $226.00.

Other analysts also recently issued research reports about the stock. Guggenheim reiterated a buy rating and issued a $245.00 target price on shares of The Ultimate Software Group in a report on Thursday, January 11th. Piper Jaffray Companies restated an overweight rating and set a $250.00 price objective on shares of The Ultimate Software Group in a report on Tuesday, January 16th. Citigroup reiterated an overweight rating and set a $232.00 target price on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. Royal Bank of Canada increased their target price on shares of The Ultimate Software Group to $260.00 and gave the stock a positive rating in a research report on Tuesday, January 30th. Finally, SunTrust Banks restated a buy rating and issued a $225.00 price objective on shares of The Ultimate Software Group in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $243.90.

The Ultimate Software Group (ULTI) traded up $5.98 during trading hours on Wednesday, hitting $230.95. 232,900 shares of the stock were exchanged, compared to its average volume of 310,894. The company has a market cap of $6,721.16, a price-to-earnings ratio of 481.15, a P/E/G ratio of 5.56 and a beta of 1.07. The Ultimate Software Group has a 12 month low of $181.59 and a 12 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 Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $244.83 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The Ultimate Software Group’s revenue was up 19.4% on a year-over-year basis. equities analysts expect that The Ultimate Software Group will post 1.83 EPS for the current year.

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

A number of large investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC increased its stake in The Ultimate Software Group by 6.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 458,930 shares of the technology company’s stock worth $100,152,000 after purchasing an additional 27,710 shares during the period. ETRADE Capital Management LLC increased its stake in The Ultimate Software Group by 50.5% in the fourth quarter. ETRADE Capital Management LLC now owns 1,807 shares of the technology company’s stock worth $394,000 after purchasing an additional 606 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of The Ultimate Software Group during the fourth quarter valued at $14,502,000. Kennedy Capital Management Inc. increased its stake in shares of The Ultimate Software Group by 2.8% during the fourth quarter. Kennedy Capital Management Inc. now owns 31,877 shares of the technology company’s stock valued at $6,957,000 after buying an additional 868 shares during the period. Finally, Amalgamated Bank increased its stake in shares of The Ultimate Software Group by 5.6% during the fourth quarter. Amalgamated Bank now owns 5,983 shares of the technology company’s stock valued at $1,306,000 after buying an additional 316 shares during the period.

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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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