Investment analysts at Bank of America Corporation assumed coverage on shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in a report issued on Monday. The firm set an “underperform” rating and a $187.00 price target on the technology company’s stock. Bank of America Corporation’s price target points to a potential downside of 4.66% from the company’s previous close.

A number of other equities research analysts have also issued reports on ULTI. Piper Jaffray Companies restated an “overweight” rating and issued a $250.00 price target on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. KeyCorp set a $255.00 price target on The Ultimate Software Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Stifel Nicolaus restated a “buy” rating and issued a $235.00 price target on shares of The Ultimate Software Group in a research report on Friday, July 28th. Roth Capital increased their price objective on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Mizuho reiterated a “neutral” rating and issued a $200.00 price objective (down from $220.00) on shares of The Ultimate Software Group in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $231.58.

Shares of The Ultimate Software Group (NASDAQ:ULTI) opened at $196.13 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.15. The stock has a market capitalization of $5,870.00, a P/E ratio of 196.93, a PEG ratio of 18.68 and a beta of 1.09. The Ultimate Software Group has a 52-week low of $180.29 and a 52-week high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The business had revenue of $236.11 million during the quarter, compared to analyst estimates of $232.92 million. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. sell-side analysts predict that The Ultimate Software Group will post 0.55 EPS for the current fiscal year.

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In other news, VP Robert Manne sold 5,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $206.08, for a total value of $1,030,400.00. Following the sale, the vice president now directly owns 76,484 shares in the company, valued at $15,761,822.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,585 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $205.82, for a total value of $943,684.70. Following the completion of the sale, the director now owns 14,650 shares in the company, valued at $3,015,263. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ULTI. Creative Planning raised its stake in shares of The Ultimate Software Group by 257.4% in the second quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after acquiring an additional 363 shares in the last quarter. Huntington National Bank raised its stake in shares of The Ultimate Software Group by 24.7% in the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after acquiring an additional 170 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of The Ultimate Software Group by 23.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock valued at $183,000 after acquiring an additional 164 shares in the last quarter. FineMark National Bank & Trust acquired a new stake in shares of The Ultimate Software Group in the second quarter valued at $200,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of The Ultimate Software Group in the second quarter valued at $201,000.

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.

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

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