The Ultimate Software Group, Inc. (ULTI) Receives Consensus Rating of “Buy” from Analysts

Shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) have earned a consensus rating of “Buy” from the twenty-four brokerages that are covering the company, MarketBeat Ratings reports. Two investment 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. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $298.60.

ULTI has been the subject of a number of recent analyst reports. BidaskClub downgraded The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. 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 report on Wednesday, September 26th. Jefferies Financial Group cut their price objective on The Ultimate Software Group to $330.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. 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 report on Monday, September 17th. Finally, Guggenheim initiated coverage on The Ultimate Software Group in a research report on Monday, August 20th. They set a “neutral” rating and a $300.00 price objective for the company.

In other news, Director James A. Fitzpatrick, Jr. sold 494 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $267.20, for a total transaction of $131,996.80. Following the completion of the transaction, the director now directly owns 9,969 shares of the company’s stock, valued at $2,663,716.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Gregory Swick sold 4,252 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $257.00, for a total value of $1,092,764.00. Following the transaction, the vice president now directly owns 25,460 shares of the company’s stock, valued at $6,543,220. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of The Ultimate Software Group by 4.4% during the third quarter. Vanguard Group Inc. now owns 2,666,371 shares of the technology company’s stock worth $859,078,000 after buying an additional 112,463 shares in the last quarter. Morgan Stanley grew its position in shares of The Ultimate Software Group by 189.6% during the third quarter. Morgan Stanley now owns 156,289 shares of the technology company’s stock worth $50,356,000 after buying an additional 102,320 shares in the last quarter. Legal & General Group Plc grew its position in shares of The Ultimate Software Group by 1.9% during the third quarter. Legal & General Group Plc now owns 34,549 shares of the technology company’s stock worth $11,131,000 after buying an additional 634 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of The Ultimate Software Group by 32,899.0% during the third quarter. Rehmann Capital Advisory Group now owns 136,286 shares of the technology company’s stock worth $423,000 after buying an additional 135,873 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its position in shares of The Ultimate Software Group by 7.4% during the third quarter. New Mexico Educational Retirement Board now owns 7,300 shares of the technology company’s stock worth $2,352,000 after buying an additional 500 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ULTI traded up $3.73 during midday trading on Thursday, reaching $258.91. 12,844 shares of the company’s stock were exchanged, compared to its average volume of 263,006. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 319.93, a PEG ratio of 5.69 and a beta of 1.19. The Ultimate Software Group has a fifty-two week low of $205.01 and a fifty-two week high of $332.43.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, October 30th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $287.83 million during the quarter, compared to the consensus estimate of $287.22 million. The Ultimate Software Group had a return on equity of 8.17% and a net margin of 4.57%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. As a group, equities research analysts predict that The Ultimate Software Group will post 2.11 earnings per share for the current fiscal year.

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

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