The Ultimate Software Group, Inc. (NASDAQ:ULTI) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 1,055,858 shares, a growth of 41.9% from the April 15th total of 744,038 shares. Based on an average daily trading volume, of 498,381 shares, the short-interest ratio is presently 2.1 days. Currently, 3.3% of the shares of the company are sold short.
A number of research analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine lowered shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. BidaskClub lowered shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. William Blair lowered shares of The Ultimate Software Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada lowered shares of The Ultimate Software Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $340.00 to $331.50 in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The Ultimate Software Group currently has a consensus rating of “Hold” and a consensus target price of $317.11.
ULTI opened at $331.36 on Monday. The firm has a market cap of $10.50 billion, a PE ratio of 138.64, a PEG ratio of 6.51 and a beta of 1.29. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a one year low of $219.97 and a one year high of $365.86.
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About The Ultimate Software Group
The Ultimate Software Group, Inc provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.
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