The Ultimate Software Group (ULTI) PT Raised to $370.00 at Needham & Company LLC

The Ultimate Software Group (NASDAQ:ULTI) had its target price lifted by stock analysts at Needham & Company LLC to $370.00 in a research report issued on Monday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 11.87% from the company’s current price.

Several other analysts have also issued reports on ULTI. ValuEngine lowered The Ultimate Software Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Roth Capital boosted their price target on The Ultimate Software Group from $280.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. BidaskClub lowered The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Evercore ISI reissued a “hold” rating and set a $290.00 price target on shares of The Ultimate Software Group in a report on Sunday, August 5th. Finally, Stifel Nicolaus boosted their price target on The Ultimate Software Group from $275.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $294.30.

Shares of ULTI opened at $330.73 on Monday. The Ultimate Software Group has a one year low of $181.59 and a one year high of $332.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $10.14 billion, a P/E ratio of 408.31, a PEG ratio of 5.97 and a beta of 1.03.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.04. The Ultimate Software Group had a return on equity of 7.74% and a net margin of 3.60%. The business had revenue of $271.16 million during the quarter, compared to analyst estimates of $268.84 million. equities research analysts predict that The Ultimate Software Group will post 2.24 EPS for the current fiscal year.

In other news, VP John C. Phenicie sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $279.07, for a total value of $1,395,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marc D. Scherr sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $279.41, for a total value of $2,794,100.00. Following the completion of the transaction, the chairman now directly owns 202,571 shares of the company’s stock, valued at approximately $56,600,363.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,505 shares of company stock valued at $4,329,184. Corporate insiders own 3.00% of the company’s stock.

Several large investors have recently bought and sold shares of ULTI. Summit Trail Advisors LLC lifted its position in shares of The Ultimate Software Group by 23,735.4% in the first quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock worth $116,000 after buying an additional 115,354 shares in the last quarter. We Are One Seven LLC lifted its position in shares of The Ultimate Software Group by 181.5% in the first quarter. We Are One Seven LLC now owns 729 shares of the technology company’s stock worth $178,000 after buying an additional 470 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of The Ultimate Software Group in the second quarter worth about $201,000. Reliance Trust Co. of Delaware purchased a new stake in shares of The Ultimate Software Group in the second quarter worth about $202,000. Finally, Sawtooth Solutions LLC purchased a new stake in shares of The Ultimate Software Group in the second quarter worth about $205,000.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

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