The Ultimate Software Group (NASDAQ:ULTI)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Jaffray Companies in a report released on Monday, The Fly reports. They presently have a $360.00 price objective on the technology company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 18.62% from the company’s previous close.

Several other research firms have also commented on ULTI. Wells Fargo & Co set a $330.00 price target on The Ultimate Software Group and gave the stock a “buy” rating in a research report on Tuesday, July 24th. BidaskClub upgraded The Ultimate Software Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 20th. JMP Securities raised their price target on The Ultimate Software Group from $280.00 to $317.00 and gave the stock a “$293.94” rating in a research report on Monday, July 23rd. Guggenheim assumed coverage on The Ultimate Software Group in a research report on Monday, August 20th. They set a “neutral” rating and a $300.00 price target for the company. Finally, Needham & Company LLC raised their price target on The Ultimate Software Group to $310.00 and gave the stock a “$291.92” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The Ultimate Software Group has a consensus rating of “Buy” and an average price target of $291.30.

ULTI opened at $303.49 on Monday. The Ultimate Software Group has a 52 week low of $181.59 and a 52 week high of $305.00. The firm has a market cap of $9.37 billion, a PE ratio of 374.68, a PEG ratio of 6.03 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. The Ultimate Software Group had a return on equity of 7.74% and a net margin of 3.60%. The business had revenue of $271.16 million during the quarter, compared to analyst estimates of $268.84 million. equities research analysts predict that The Ultimate Software Group will post 2.27 earnings per share for the current fiscal year.

In related news, VP John C. Phenicie sold 5,000 shares of The Ultimate Software Group stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $279.07, for a total value of $1,395,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Marc D. Scherr sold 10,000 shares of The Ultimate Software Group stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $279.41, for a total value of $2,794,100.00. Following the completion of the transaction, the chairman now owns 202,571 shares of the company’s stock, valued at $56,600,363.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,505 shares of company stock valued at $4,329,184. 3.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in ULTI. A.R.T. Advisors LLC lifted its holdings in The Ultimate Software Group by 2.8% during the 1st quarter. A.R.T. Advisors LLC now owns 7,242 shares of the technology company’s stock worth $1,764,000 after buying an additional 200 shares during the last quarter. Liberty Mutual Group Asset Management Inc. lifted its holdings in The Ultimate Software Group by 3.6% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 5,791 shares of the technology company’s stock worth $1,490,000 after buying an additional 201 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in The Ultimate Software Group by 4.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,741 shares of the technology company’s stock worth $1,219,000 after buying an additional 217 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in The Ultimate Software Group by 3.1% during the 2nd quarter. Macquarie Group Ltd. now owns 8,416 shares of the technology company’s stock worth $2,165,000 after buying an additional 251 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in The Ultimate Software Group by 3.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 9,955 shares of the technology company’s stock worth $2,562,000 after buying an additional 286 shares during the last quarter.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

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The Fly

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

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