The Ultimate Software Group (ULTI) Cut to Hold at BidaskClub

The Ultimate Software Group (NASDAQ:ULTI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued reports about the company. Canaccord Genuity boosted their target price 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. SunTrust Banks restated a “buy” rating and issued a $225.00 price objective on shares of The Ultimate Software Group in a research report on Friday, November 3rd. Royal Bank of Canada restated a “buy” rating and issued a $216.00 price objective on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. Stifel Nicolaus upped their price objective on The Ultimate Software Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Mizuho upgraded The Ultimate Software Group from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The Ultimate Software Group currently has an average rating of “Buy” and a consensus price target of $232.37.

Shares of The Ultimate Software Group (NASDAQ ULTI) opened at $226.26 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6,760.29, a price-to-earnings ratio of 233.26, a price-to-earnings-growth ratio of 8.45 and a beta of 1.08. 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 posted its earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.17. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. equities analysts predict that The Ultimate Software Group will post 0.63 EPS for the current year.

In related news, VP Robert Manne sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $206.08, for a total transaction of $1,030,400.00. Following the transaction, the vice president now directly owns 76,484 shares in the company, valued at $15,761,822.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitchell K. Dauerman sold 15,480 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $196.00, for a total value of $3,034,080.00. Following the transaction, the chief financial officer now owns 122,045 shares in the company, valued at $23,920,820. The disclosure for this sale can be found here. Insiders have sold 116,259 shares of company stock worth $22,912,048 over the last quarter. 4.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC purchased a new position in The Ultimate Software Group during the second quarter worth about $201,000. Zions Bancorporation purchased a new position in The Ultimate Software Group during the third quarter worth about $182,000. Nomura Holdings Inc. purchased a new position in The Ultimate Software Group during the second quarter worth about $229,000. Banque Pictet & Cie SA purchased a new position in The Ultimate Software Group during the third quarter worth about $209,000. Finally, GSA Capital Partners LLP purchased a new position in The Ultimate Software Group during the third quarter worth about $232,000.

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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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