The Ultimate Software Group (NASDAQ:ULTI) was upgraded by equities research analysts at Mizuho from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $200.00 price objective on the technology company’s stock. Mizuho’s price target indicates a potential downside of 10.77% from the company’s previous close.

Several other research firms have also commented on ULTI. Stifel Nicolaus boosted their price target on The Ultimate Software Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reissued a “buy” rating and set a $216.00 price target on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. Zacks Investment Research raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. SunTrust Banks reissued a “buy” rating and set a $225.00 price target on shares of The Ultimate Software Group in a research report on Friday, November 3rd. Finally, Canaccord Genuity boosted their price target on The Ultimate Software Group from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $231.58.

The Ultimate Software Group (ULTI) traded down $1.74 during trading on Monday, reaching $224.13. The company had a trading volume of 120,700 shares, compared to its average volume of 220,933. The firm has a market cap of $6,740.00, a price-to-earnings ratio of 231.06, a PEG ratio of 8.24 and a beta of 1.08. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a 12-month low of $181.59 and a 12-month high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. The firm had revenue of $236.11 million for 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 Ultimate Software Group’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. sell-side analysts anticipate that The Ultimate Software Group will post 0.63 earnings per share for the current year.

In other news, Director Alois T. Leiter sold 5,559 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $198.16, for a total value of $1,101,571.44. Following the completion of the sale, the director now directly owns 165,596 shares in the company, valued at approximately $32,814,503.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott Scherr sold 43,537 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $196.21, for a total value of $8,542,394.77. Following the completion of the sale, the chairman now owns 426,427 shares of the company’s stock, valued at $83,669,241.67. The disclosure for this sale can be found here. Insiders sold a total of 116,259 shares of company stock valued at $22,912,048 over the last quarter. Company insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ULTI. Janus Henderson Group PLC increased its holdings in shares of The Ultimate Software Group by 819.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock valued at $471,594,000 after acquiring an additional 2,000,984 shares during the last quarter. FMR LLC boosted its position in The Ultimate Software Group by 4.9% during the 2nd quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock worth $812,884,000 after acquiring an additional 180,698 shares during the period. Bamco Inc. NY lifted its holdings in shares of The Ultimate Software Group by 32.6% in the third quarter. Bamco Inc. NY now owns 520,740 shares of the technology company’s stock valued at $98,732,000 after buying an additional 128,099 shares during the period. Vanguard Group Inc. lifted its holdings in shares of The Ultimate Software Group by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock valued at $483,258,000 after buying an additional 71,422 shares during the period. Finally, Bain Capital Public Equity Management LLC acquired a new stake in shares of The Ultimate Software Group in the second quarter valued at $14,984,000.

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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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