Oppenheimer Holdings Analysts Lower Earnings Estimates for The Ultimate Software Group, Inc. (NASDAQ:ULTI)

The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Research analysts at Oppenheimer Holdings cut their Q3 2017 EPS estimates for shares of The Ultimate Software Group in a note issued to investors on Wednesday. Oppenheimer Holdings analyst B. Schwartz now forecasts that the technology company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.32. Oppenheimer Holdings also issued estimates for The Ultimate Software Group’s Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.50 EPS, Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $1.89 EPS and FY2019 earnings at $2.43 EPS.

Several other research firms have also recently weighed in on ULTI. Canaccord Genuity lowered their price objective on shares of The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. Deutsche Bank AG cut shares of The Ultimate Software Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $230.00 to $210.00 in a research report on Wednesday, August 2nd. Roth Capital lifted their price target on shares of The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, July 31st. BidaskClub cut shares of The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Royal Bank Of Canada lowered their price target on shares of The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $236.78.

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The Ultimate Software Group (NASDAQ ULTI) opened at 195.65 on Monday. The company has a market capitalization of $5.82 billion, a PE ratio of 201.91 and a beta of 1.08. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $233.42. The stock has a 50 day moving average of $217.11 and a 200 day moving average of $205.87.

The Ultimate Software Group (NASDAQ:ULTI) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by $0.03. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The firm had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. During the same quarter last year, the company posted $0.76 EPS. The Ultimate Software Group’s revenue for the quarter was up 20.4% on a year-over-year basis.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $1,001,950.00. Following the transaction, the vice president now owns 78,633 shares of the company’s stock, valued at $15,757,266.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of The Ultimate Software Group by 463.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 109,036 shares of the technology company’s stock worth $21,284,000 after buying an additional 89,696 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of The Ultimate Software Group by 24.1% in the first quarter. Russell Investments Group Ltd. now owns 200,846 shares of the technology company’s stock worth $39,212,000 after buying an additional 39,052 shares in the last quarter. Profund Advisors LLC raised its stake in shares of The Ultimate Software Group by 11.7% in the first quarter. Profund Advisors LLC now owns 4,059 shares of the technology company’s stock worth $792,000 after buying an additional 425 shares in the last quarter. NBW Capital LLC raised its stake in shares of The Ultimate Software Group by 6.5% in the first quarter. NBW Capital LLC now owns 27,238 shares of the technology company’s stock worth $5,317,000 after buying an additional 1,669 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of The Ultimate Software Group by 2.3% in the first quarter. Retirement Systems of Alabama now owns 38,296 shares of the technology company’s stock worth $7,476,000 after buying an additional 848 shares in the last quarter.

The Ultimate Software Group Company Profile

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.

Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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