The Ultimate Software Group Inc. (NASDAQ:ULTI) has been assigned a $245.00 price objective by equities researchers at Pacific Crest in a report released on Tuesday. The firm presently has a a “buy” rating on the stock. Pacific Crest’s price target points to a potential upside of 18.21% from the stock’s previous close.

Several other brokerages have also recently issued reports on ULTI. Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a report on Wednesday, July 27th. MKM Partners upped their target price on shares of The Ultimate Software Group from $230.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Deutsche Bank AG upped their target price on shares of The Ultimate Software Group from $215.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Stifel Nicolaus increased their price target on shares of The Ultimate Software Group from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Finally, Wedbush reiterated a “neutral” rating and set a $203.00 price target on shares of The Ultimate Software Group in a research note on Monday, July 25th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The Ultimate Software Group has a consensus rating of “Buy” and an average target price of $221.38.

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

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down 2.97% during mid-day trading on Tuesday, hitting $201.09. 136,427 shares of the stock traded hands. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 314.69 and a beta of 1.27. The firm’s 50 day moving average price is $207.69 and its 200 day moving average price is $204.41. The Ultimate Software Group has a 12-month low of $148.26 and a 12-month high of $224.07.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The Ultimate Software Group had a net margin of 2.71% and a return on equity of 3.71%. The business earned $186.50 million during the quarter, compared to analysts’ expectations of $187.06 million. During the same quarter in the prior year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 94.6% on a year-over-year basis. On average, equities research analysts predict that The Ultimate Software Group will post $3.29 EPS for the current fiscal year.

In other news, VP John C. Phenicie sold 3,504 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $209.45, for a total value of $733,912.80. Following the completion of the transaction, the vice president now owns 55,524 shares in the company, valued at approximately $11,629,501.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leroy Vander Putten sold 1,351 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $210.22, for a total transaction of $284,007.22. Following the completion of the transaction, the director now owns 21,934 shares of the company’s stock, valued at approximately $4,610,965.48. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. increased its position in The Ultimate Software Group by 3.5% in the first quarter. Kennedy Capital Management Inc. now owns 9,653 shares of the company’s stock valued at $1,868,000 after buying an additional 327 shares during the period. Calamos Advisors LLC acquired a new position in The Ultimate Software Group during the second quarter valued at $11,922,000. Geode Capital Management LLC increased its position in The Ultimate Software Group by 5.0% in the first quarter. Geode Capital Management LLC now owns 180,038 shares of the company’s stock valued at $34,837,000 after buying an additional 8,603 shares during the period. GW&K Investment Management LLC increased its position in The Ultimate Software Group by 17.8% in the second quarter. GW&K Investment Management LLC now owns 67,482 shares of the company’s stock valued at $14,191,000 after buying an additional 10,191 shares during the period. Finally, State Street Corp increased its position in The Ultimate Software Group by 2.3% in the first quarter. State Street Corp now owns 768,515 shares of the company’s stock valued at $148,707,000 after buying an additional 17,632 shares during the period. Institutional investors and hedge funds own 97.62% of the company’s stock.

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, and includes global people management, available in over 10 languages with approximately 40 country-specific localizations.

5 Day Chart for NASDAQ:ULTI

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