The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Equities researchers at KeyCorp dropped their Q1 2018 earnings per share (EPS) estimates for The Ultimate Software Group in a research report issued on Tuesday. KeyCorp analyst T. Upton now expects that the technology company will post earnings of $0.07 per share for the quarter, down from their previous forecast of $0.08. KeyCorp has a “Buy” rating and a $235.00 price target on the stock. KeyCorp also issued estimates for The Ultimate Software Group’s Q2 2018 earnings at $0.27 EPS and FY2018 earnings at $1.03 EPS.

The Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, August 1st. The technology company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS.

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Other analysts have also issued reports about the company. Wedbush dropped their price target on The Ultimate Software Group from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Credit Suisse Group reiterated an “outperform” rating and set a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a report on Monday. Royal Bank Of Canada dropped their price target on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. SunTrust Banks, Inc. began coverage on The Ultimate Software Group in a report on Monday, June 26th. They set a “buy” rating and a $240.00 price target on the stock. Finally, BidaskClub upgraded The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $235.67.

Shares of The Ultimate Software Group (NASDAQ ULTI) opened at 191.43 on Friday. The Ultimate Software Group has a 1-year low of $180.29 and a 1-year high of $233.42. The company has a market cap of $5.71 billion, a PE ratio of 197.55 and a beta of 1.08. The firm has a 50-day moving average price of $210.64 and a 200 day moving average price of $205.70.

Several institutional investors have recently made changes to their positions in ULTI. BlackRock Inc. boosted its position in shares of The Ultimate Software Group by 13,409.8% in the first quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock valued at $466,292,000 after buying an additional 2,370,980 shares during the period. Janus Henderson Group PLC boosted its position in shares of The Ultimate Software Group by 819.9% in the second quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock valued at $471,594,000 after buying an additional 2,000,984 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of The Ultimate Software Group by 20,578.4% in the second quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock valued at $5,365,000 after buying an additional 1,121,522 shares during the period. FMR LLC boosted its position in shares of The Ultimate Software Group by 11.3% in the first quarter. FMR LLC now owns 3,689,071 shares of the technology company’s stock valued at $720,143,000 after buying an additional 374,243 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of The Ultimate Software Group by 11.2% in the first quarter. Wellington Management Group LLP now owns 1,454,994 shares of the technology company’s stock valued at $284,029,000 after buying an additional 146,312 shares during the period.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $3,005,850. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $1,001,950.00. Following the completion of the transaction, the vice president now owns 78,633 shares of the company’s stock, valued at $15,757,266.87. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by insiders.

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.

Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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