The Ultimate Software Group Inc. (NASDAQ:ULTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Ultimate Software is a leader in delivering Web-based payroll and employee management solutions to organizations of all sizes. Ultimate Software’s fully integrated, award-winning UltiPro suite enables businesses to manage human resources and payroll strategically and cost-effectively, benefiting everyone in the organization. Ultimate Software offers application hosting through IBM Global Services and a business-to-business Web portal, providing access to value-added resources via the Internet. “

Several other equities research analysts also recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $203.00 target price on shares of The Ultimate Software Group in a research note on Monday, July 25th. Pacific Crest set a $245.00 target price on shares of The Ultimate Software Group and gave the company a “buy” rating in a research note on Tuesday, October 11th. Deutsche Bank AG raised 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 research note on Wednesday, July 27th. MKM Partners raised 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 research note on Wednesday, July 27th. Finally, TheStreet downgraded shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $228.50.

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

The Ultimate Software Group (NASDAQ:ULTI) opened at 201.09 on Tuesday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 314.69 and a beta of 0.98. The Ultimate Software Group has a 52 week low of $148.26 and a 52 week high of $224.07. The company’s 50-day moving average price is $207.08 and its 200 day moving average price is $206.68.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The Ultimate Software Group had a net margin of 2.42% and a return on equity of 3.26%. The business earned $197 million during the quarter, compared to the consensus estimate of $196.94 million. During the same period last year, the business posted $0.69 EPS. The Ultimate Software Group’s revenue was up 26.9% on a year-over-year basis. On average, analysts predict that The Ultimate Software Group will post $3.23 EPS for the current year.

In related news, VP Gregory Swick sold 16,142 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $209.78, for a total value of $3,386,268.76. Following the transaction, the vice president now owns 62,136 shares in the company, valued at $13,034,890.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James A. Fitzpatrick, Jr. sold 883 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $210.58, for a total transaction of $185,942.14. Following the completion of the transaction, the director now owns 11,581 shares in the company, valued at approximately $2,438,726.98. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ULTI. Mariner Wealth Advisors LLC purchased a new position in The Ultimate Software Group during the second quarter valued at about $203,000. Bank of Hawaii purchased a new position in The Ultimate Software Group during the second quarter valued at about $213,000. Tower Research Capital LLC TRC raised its position in The Ultimate Software Group by 132.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,034 shares of the company’s stock valued at $211,000 after buying an additional 590 shares during the last quarter. Advisors Asset Management Inc. raised its position in The Ultimate Software Group by 2.3% in the second quarter. Advisors Asset Management Inc. now owns 1,047 shares of the company’s stock valued at $220,000 after buying an additional 24 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in The Ultimate Software Group during the second quarter valued at about $226,000. Institutional investors and hedge funds own 97.62% of the company’s stock.

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, 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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