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

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BidaskClub lowered shares of The Ultimate Software Group (NASDAQ:ULTI) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Several other equities analysts have also issued reports on ULTI. Evercore ISI raised shares of The Ultimate Software Group from an in-line rating to an outperform rating and set a $310.00 price target on the stock in a report on Thursday, December 13th. Zacks Investment Research raised shares of The Ultimate Software Group from a strong sell rating to a hold rating in a report on Saturday, January 5th. Deutsche Bank initiated coverage on shares of The Ultimate Software Group in a report on Friday, January 25th. They issued a buy rating and a $267.32 price target on the stock. Goldman Sachs Group initiated coverage on shares of The Ultimate Software Group in a report on Friday, February 1st. They issued a neutral rating on the stock. Finally, UBS Group lowered shares of The Ultimate Software Group to a neutral rating and lifted their price target for the stock from $303.00 to $331.50 in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $314.68.

NASDAQ ULTI opened at $330.17 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.07 and a current ratio of 1.07. The Ultimate Software Group has a 12-month low of $219.97 and a 12-month high of $365.86. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 138.15, a PEG ratio of 6.51 and a beta of 1.33.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Monday, February 4th. The technology company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $1.37. The Ultimate Software Group had a net margin of 5.71% and a return on equity of 9.90%. The business had revenue of $304.80 million for the quarter, compared to analyst estimates of $300.60 million. During the same period in the previous year, the company earned $1.11 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that The Ultimate Software Group will post 2.4 EPS for the current year.

In other news, Director James A. Fitzpatrick, Jr. sold 531 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $332.00, for a total transaction of $176,292.00. Following the sale, the director now directly owns 9,937 shares of the company’s stock, valued at $3,299,084. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Scherr sold 70,809 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $331.68, for a total transaction of $23,485,929.12. Following the sale, the chief executive officer now directly owns 251,777 shares in the company, valued at $83,509,395.36. The disclosure for this sale can be found here. Insiders have sold 152,522 shares of company stock worth $50,593,109 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its holdings in The Ultimate Software Group by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,522 shares of the technology company’s stock valued at $2,577,000 after purchasing an additional 32 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in The Ultimate Software Group by 4.0% in the fourth quarter. Cigna Investments Inc. New now owns 1,016 shares of the technology company’s stock valued at $249,000 after purchasing an additional 39 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in The Ultimate Software Group by 0.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,835 shares of the technology company’s stock valued at $1,429,000 after purchasing an additional 40 shares during the last quarter. Creative Planning boosted its holdings in The Ultimate Software Group by 5.0% in the fourth quarter. Creative Planning now owns 886 shares of the technology company’s stock valued at $217,000 after purchasing an additional 42 shares during the last quarter. Finally, Rothschild Capital Partners LLC boosted its holdings in The Ultimate Software Group by 0.5% in the fourth quarter. Rothschild Capital Partners LLC now owns 12,523 shares of the technology company’s stock valued at $3,067,000 after purchasing an additional 63 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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 need to manage the employee life cycle from recruitment to retirement.

See Also: Conference Calls

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

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