$270.86 Million in Sales Expected for The Ultimate Software Group, Inc. (ULTI) This Quarter

Analysts predict that The Ultimate Software Group, Inc. (NASDAQ:ULTI) will announce $270.86 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for The Ultimate Software Group’s earnings. The highest sales estimate is $272.30 million and the lowest is $270.14 million. The Ultimate Software Group posted sales of $228.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.5%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, May 1st.

According to Zacks, analysts expect that The Ultimate Software Group will report full year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.11 billion to $1.12 billion. For the next financial year, analysts expect that the firm will report sales of $1.29 billion per share, with estimates ranging from $1.13 billion to $1.34 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover The Ultimate Software Group.

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

ULTI has been the topic of a number of recent research reports. BidaskClub upgraded shares of The Ultimate Software Group from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Mizuho upgraded shares of The Ultimate Software Group from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Monday, January 8th. Guggenheim restated a “buy” rating and set a $245.00 price target on shares of The Ultimate Software Group in a report on Thursday, January 11th. Piper Jaffray restated an “overweight” rating and set a $250.00 price target on shares of The Ultimate Software Group in a report on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their target price on shares of The Ultimate Software Group to $260.00 and gave the stock a “positive” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $245.45.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Scott Scherr sold 110,522 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $224.58, for a total transaction of $24,821,030.76. Following the completion of the sale, the chairman now owns 343,139 shares in the company, valued at $77,062,156.62. The disclosure for this sale can be found here. Insiders sold a total of 284,019 shares of company stock worth $63,840,036 over the last 90 days. Company insiders own 3.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new stake in The Ultimate Software Group in the 4th quarter worth $558,000. William Blair Investment Management LLC grew its position in The Ultimate Software Group by 60.3% in the 4th quarter. William Blair Investment Management LLC now owns 378,492 shares of the technology company’s stock worth $82,598,000 after purchasing an additional 142,353 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in The Ultimate Software Group in the 4th quarter worth $3,919,000. Millennium Management LLC grew its position in The Ultimate Software Group by 279.8% in the 4th quarter. Millennium Management LLC now owns 272,126 shares of the technology company’s stock worth $59,386,000 after purchasing an additional 200,469 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in The Ultimate Software Group by 18.7% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,556 shares of the technology company’s stock worth $776,000 after purchasing an additional 560 shares during the last quarter.

Shares of The Ultimate Software Group stock traded up $5.07 during midday trading on Tuesday, reaching $249.01. 613,887 shares of the company’s stock traded hands, compared to its average volume of 282,146. The company has a market capitalization of $7,510.54, a P/E ratio of 307.42, a P/E/G ratio of 5.93 and a beta of 0.96. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a 52 week low of $181.59 and a 52 week high of $257.93.

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About The Ultimate Software Group

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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Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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