BidaskClub Downgrades The Ultimate Software Group (ULTI) to Hold

BidaskClub cut shares of The Ultimate Software Group (NASDAQ:ULTI) from a buy rating to a hold rating in a report published on Tuesday.

Several other brokerages also recently commented on ULTI. Needham & Company LLC raised their price objective on The Ultimate Software Group to $370.00 and gave the stock a buy rating in a research note on Monday, September 17th. Bank of America raised their price objective on The Ultimate Software Group from $258.00 to $266.00 and gave the stock an underperform rating in a research note on Wednesday, September 26th. Jefferies Financial Group began coverage on The Ultimate Software Group in a research note on Monday, October 1st. They set a buy rating and a $370.00 price objective on the stock. Piper Jaffray Companies reaffirmed an overweight rating and set a $360.00 price objective on shares of The Ultimate Software Group in a research note on Monday, August 27th. Finally, Wells Fargo & Co set a $330.00 price objective on The Ultimate Software Group and gave the stock a buy rating in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The Ultimate Software Group presently has a consensus rating of Buy and an average target price of $298.29.

ULTI stock opened at $293.03 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $10.05 billion, a PE ratio of 361.77, a P/E/G ratio of 5.91 and a beta of 1.02. The Ultimate Software Group has a twelve month low of $190.01 and a twelve month high of $332.43.

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

In other The Ultimate Software Group news, VP John C. Phenicie sold 5,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $279.07, for a total transaction of $1,395,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marc D. Scherr sold 10,000 shares of the 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 transaction, the chairman now 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 quarter, insiders have sold 15,505 shares of company stock valued at $4,329,184. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ULTI. FMR LLC increased its holdings in The Ultimate Software Group by 6.6% during the 2nd quarter. FMR LLC now owns 3,875,957 shares of the technology company’s stock worth $997,322,000 after purchasing an additional 241,385 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of The Ultimate Software Group by 512.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 268,961 shares of the technology company’s stock valued at $65,546,000 after acquiring an additional 225,072 shares in the last quarter. Millennium Management LLC grew its holdings in shares of The Ultimate Software Group by 833.6% in the 2nd quarter. Millennium Management LLC now owns 184,772 shares of the technology company’s stock valued at $47,544,000 after acquiring an additional 164,980 shares in the last quarter. BlackRock Inc. grew its holdings in shares of The Ultimate Software Group by 5.0% in the 2nd quarter. BlackRock Inc. now owns 2,598,596 shares of the technology company’s stock valued at $668,644,000 after acquiring an additional 123,866 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of The Ultimate Software Group by 23,735.4% in the 1st quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock valued at $116,000 after acquiring an additional 115,354 shares in the last quarter.

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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Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

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