The Ultimate Software Group, Inc. (NASDAQ:ULTI) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.

ULTI has been the topic of a number of other research reports. Credit Suisse Group restated a “buy” rating on shares of The Ultimate Software Group in a research note on Monday, July 3rd. Piper Jaffray Companies restated an “overweight” rating and set a $250.00 price target on shares of The Ultimate Software Group in a research note on Saturday, July 22nd. Wells Fargo & Company started coverage on The Ultimate Software Group in a research note on Thursday, May 11th. They set an “outperform” rating and a $240.00 price target on the stock. BidaskClub lowered The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $216.00 target price (down previously from $233.00) on shares of The Ultimate Software Group in a research report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $235.67.

Shares of The Ultimate Software Group (ULTI) traded down 0.54% during mid-day trading on Friday, hitting $199.81. 214,992 shares of the stock were exchanged. The stock has a market cap of $5.96 billion, a PE ratio of 206.20 and a beta of 1.08. The Ultimate Software Group has a 12 month low of $180.29 and a 12 month high of $233.42. The stock’s 50 day moving average is $206.11 and its 200-day moving average is $205.95.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.03. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The business had revenue of $224.70 million for the quarter, compared to analysts’ expectations of $228.02 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The Ultimate Software Group’s revenue was up 20.4% on a year-over-year basis. On average, analysts anticipate that The Ultimate Software Group will post $3.53 EPS for the current year.

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In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 15,000 shares in the company, valued at approximately $3,005,850. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $1,001,950.00. Following the completion of the sale, the vice president now owns 78,633 shares in the company, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC increased its position in shares of The Ultimate Software Group by 0.6% in the second quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock valued at $350,000 after buying an additional 10 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of The Ultimate Software Group by 1.5% in the first quarter. Suntrust Banks Inc. now owns 2,627 shares of the technology company’s stock valued at $512,000 after buying an additional 40 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of The Ultimate Software Group by 0.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,333 shares of the technology company’s stock valued at $846,000 after buying an additional 40 shares during the last quarter. M&T Bank Corp increased its position in shares of The Ultimate Software Group by 1.0% in the second quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock valued at $1,184,000 after buying an additional 56 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of The Ultimate Software Group by 5.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock valued at $241,000 after buying an additional 57 shares during the last quarter.

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.

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

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