The Ultimate Software Group, Inc. (ULTI) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. Wedbush decreased their price target on shares of The Ultimate Software Group from $240.00 to $236.00 and set an outperform rating on the stock in a research note on Wednesday, April 26th. Canaccord Genuity reaffirmed a buy rating and set a $240.00 price target on shares of The Ultimate Software Group in a research note on Thursday, May 25th. MKM Partners reaffirmed a buy rating and set a $250.00 price target on shares of The Ultimate Software Group in a research note on Friday, April 14th. Guggenheim assumed coverage on shares of The Ultimate Software Group in a research note on Wednesday, April 12th. They set a buy rating and a $230.00 price target on the stock. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $260.00 price target on shares of The Ultimate Software Group in a research note on Friday, April 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $238.54.

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

The Ultimate Software Group (NASDAQ:ULTI) traded up 0.91% during trading on Friday, hitting $222.16. 366,291 shares of the company traded hands. The stock has a market capitalization of $6.60 billion, a PE ratio of 219.96 and a beta of 1.10. The company’s 50 day moving average is $214.21 and its 200-day moving average is $199.70. The Ultimate Software Group has a 52 week low of $180.29 and a 52 week high of $225.62.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Tuesday, April 25th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. The company had revenue of $228.49 million for the quarter, compared to the consensus estimate of $228.87 million. The Ultimate Software Group had a net margin of 3.23% and a return on equity of 6.88%. The Ultimate Software Group’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Analysts predict that The Ultimate Software Group will post $3.99 earnings per share for the current year.

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In related news, VP Adam Rogers sold 3,482 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $198.92, for a total value of $692,639.44. Following the completion of the sale, the vice president now directly owns 51,477 shares of the company’s stock, valued at $10,239,804.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,630 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $198.95, for a total transaction of $921,138.50. Following the completion of the sale, the director now directly owns 15,421 shares of the company’s stock, valued at $3,068,007.95. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in The Ultimate Software Group by 11.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 859 shares of the technology company’s stock worth $156,000 after buying an additional 90 shares during the period. AQR Capital Management LLC raised its stake in The Ultimate Software Group by 4.1% in the fourth quarter. AQR Capital Management LLC now owns 6,462 shares of the technology company’s stock worth $1,178,000 after buying an additional 254 shares during the period. Tyers Asset Management LLC acquired a new stake in The Ultimate Software Group during the fourth quarter worth $230,000. Menta Capital LLC acquired a new stake in The Ultimate Software Group during the fourth quarter worth $810,000. Finally, Renaissance Technologies LLC acquired a new stake in The Ultimate Software Group during the fourth quarter worth $7,977,000. 99.38% of the stock is owned by institutional investors.

The Ultimate Software Group Company Profile

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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