The Ultimate Software Group (ULTI) Trading -3.5% Higher on Analyst Upgrade

The Ultimate Software Group, Inc. (NASDAQ:ULTI)’s share price traded up 3.5% on Thursday after Robert W. Baird raised their price target on the stock from $210.00 to $235.00. Robert W. Baird currently has a neutral rating on the stock. The Ultimate Software Group traded as high as $242.93 and last traded at $224.09. 140,697 shares were traded during mid-day trading, a decline of 50% from the average session volume of 281,841 shares. The stock had previously closed at $232.17.

A number of other equities analysts have also weighed in on the company. Canaccord Genuity boosted their target price on The Ultimate Software Group from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. SunTrust Banks boosted their target price on The Ultimate Software Group to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group reissued an “outperform” rating and issued a $255.00 target price (up previously from $245.00) on shares of The Ultimate Software Group in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $234.00 target price (up previously from $226.00) on shares of The Ultimate Software Group in a research report on Wednesday. Finally, Citigroup reissued an “overweight” rating and issued a $232.00 target price on shares of The Ultimate Software Group in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the stock. The Ultimate Software Group has a consensus rating of “Buy” and a consensus price target of $243.10.

In related news, Director Alois T. Leiter sold 5,559 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $198.16, for a total value of $1,101,571.44. Following the completion of the sale, the director now directly owns 165,596 shares of the company’s stock, valued at approximately $32,814,503.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation purchased a new stake in The Ultimate Software Group in the 3rd quarter worth approximately $182,000. CIBC Asset Management Inc bought a new position in The Ultimate Software Group in the 4th quarter worth approximately $213,000. FineMark National Bank & Trust bought a new position in The Ultimate Software Group in the 4th quarter worth approximately $217,000. Nomura Holdings Inc. bought a new position in The Ultimate Software Group in the 2nd quarter worth approximately $229,000. Finally, Banque Pictet & Cie SA bought a new position in The Ultimate Software Group in the 3rd quarter worth approximately $209,000.

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $6,470.80, a P/E ratio of 251.85, a price-to-earnings-growth ratio of 8.03 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.24. The Ultimate Software Group had a return on equity of 5.39% and a net margin of 1.59%. The business had revenue of $251.43 million during the quarter, compared to the consensus estimate of $244.83 million. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. sell-side analysts predict that The Ultimate Software Group, Inc. will post 1.32 earnings per share for the current fiscal year.

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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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