The Ultimate Software Group, Inc. (ULTI) Director Sells $131,996.80 in Stock

The Ultimate Software Group, Inc. (NASDAQ:ULTI) Director James A. Fitzpatrick, Jr. sold 494 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $267.20, for a total transaction of $131,996.80. Following the sale, the director now owns 9,969 shares in the company, valued at approximately $2,663,716.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ:ULTI traded down $5.62 during trading hours on Friday, reaching $260.60. 484,510 shares of the company were exchanged, compared to its average volume of 345,819. The company has a quick ratio of 1.14, a current ratio of 1.04 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.32 billion, a P/E ratio of 164.59, a P/E/G ratio of 5.12 and a beta of 1.19. The Ultimate Software Group, Inc. has a 52-week low of $193.08 and a 52-week high of $332.43.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, October 30th. The technology company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.01. The company had revenue of $287.83 million for the quarter, compared to the consensus estimate of $287.22 million. The Ultimate Software Group had a net margin of 4.57% and a return on equity of 8.18%. The Ultimate Software Group’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. Research analysts forecast that The Ultimate Software Group, Inc. will post 2.24 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. First Hawaiian Bank purchased a new position in The Ultimate Software Group during the third quarter worth approximately $109,000. We Are One Seven LLC purchased a new position in The Ultimate Software Group during the third quarter worth approximately $207,000. Kornitzer Capital Management Inc. KS purchased a new position in The Ultimate Software Group during the second quarter worth approximately $201,000. Reliance Trust Co. of Delaware purchased a new position in The Ultimate Software Group during the second quarter worth approximately $202,000. Finally, Harvest Fund Management Co. Ltd raised its stake in The Ultimate Software Group by 386.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 793 shares of the technology company’s stock worth $255,000 after purchasing an additional 630 shares during the period. 99.96% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on ULTI. Needham & Company LLC raised their target price on shares of The Ultimate Software Group to $370.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. BidaskClub lowered shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Roth Capital raised their target price on shares of The Ultimate Software Group from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Wells Fargo & Co set a $330.00 target price on shares of The Ultimate Software Group and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, Credit Suisse Group raised their target price on shares of The Ultimate Software Group from $280.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $296.38.

About The Ultimate Software Group

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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