BidaskClub downgraded shares of The Ultimate Software Group (NASDAQ:ULTI) from a hold rating to a sell rating in a research note published on Wednesday.

A number of other research firms have also recently issued reports on ULTI. Mitsubishi UFJ Financial Group boosted their price objective on The Ultimate Software Group to $302.00 and gave the company an overweight rating in a report on Wednesday, August 1st. Needham & Company LLC boosted their price objective on The Ultimate Software Group to $310.00 and gave the company a $291.92 rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. SunTrust Banks upped their target price on The Ultimate Software Group to $310.00 and gave the stock a buy rating in a report on Wednesday, August 1st. Jefferies Financial Group assumed coverage on The Ultimate Software Group in a report on Monday, October 1st. They issued a buy rating and a $370.00 target price for the company. Finally, Bank of America upped their target price on The Ultimate Software Group from $221.00 to $258.00 and gave the stock an underperform rating in a report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $296.38.

ULTI traded up $0.79 during trading hours on Wednesday, reaching $257.73. 280,897 shares of the company’s stock traded hands, compared to its average volume of 353,372. The Ultimate Software Group has a 52-week low of $193.08 and a 52-week high of $332.43. The company has a quick ratio of 1.14, a current ratio of 1.04 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.32 billion, a P/E ratio of 318.19, a PEG ratio of 5.94 and a beta of 1.19.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, October 30th. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. The Ultimate Software Group had a return on equity of 8.18% and a net margin of 4.57%. The company had revenue of $287.83 million during the quarter, compared to analysts’ expectations of $287.22 million. During the same quarter in the previous year, the business earned $1.05 EPS. The Ultimate Software Group’s revenue was up 21.9% compared to the same quarter last year. Equities analysts anticipate that The Ultimate Software Group will post 2.11 EPS for the current fiscal year.

In related news, VP Gregory Swick sold 4,252 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $257.00, for a total transaction of $1,092,764.00. Following the completion of the sale, the vice president now directly owns 25,460 shares in the company, valued at approximately $6,543,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 494 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $267.20, for a total value of $131,996.80. Following the sale, the director now owns 9,969 shares of the company’s stock, valued at $2,663,716.80. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in shares of The Ultimate Software Group by 144.3% during the 2nd quarter. Renaissance Technologies LLC now owns 92,614 shares of the technology company’s stock worth $23,831,000 after purchasing an additional 54,700 shares during the last quarter. Strs Ohio purchased a new stake in shares of The Ultimate Software Group during the 2nd quarter worth $405,000. Bank of New York Mellon Corp lifted its stake in shares of The Ultimate Software Group by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 343,204 shares of the technology company’s stock worth $88,309,000 after purchasing an additional 6,540 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of The Ultimate Software Group during the 2nd quarter worth $655,000. Finally, HMS Capital Management LLC purchased a new stake in shares of The Ultimate Software Group during the 3rd quarter worth $433,000. Hedge funds and other institutional investors own 99.98% of the company’s stock.

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

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