The Ultimate Software Group, Inc. (ULTI) Rating Increased to Hold at Zacks Investment Research

The Ultimate Software Group, Inc. (NASDAQ:ULTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

Several other research analysts also recently commented on the company. Credit Suisse Group reissued a “buy” rating on shares of The Ultimate Software Group in a report on Monday, July 3rd. Piper Jaffray Companies reissued an “overweight” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a report on Saturday, July 22nd. ValuEngine raised The Ultimate Software Group from a “sell” rating to a “hold” rating in a report on Friday, September 1st. SunTrust Banks, Inc. started coverage on The Ultimate Software Group in a report on Monday, June 26th. They issued a “buy” rating and a $240.00 target price on the stock. Finally, Pacific Crest reissued an “overweight” rating and issued a $255.00 target price (up from $240.00) on shares of The Ultimate Software Group in a report on Monday, June 26th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $235.29.

The Ultimate Software Group (NASDAQ:ULTI) last announced 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 business had revenue of $224.70 million during the quarter, compared to analyst estimates of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share.

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In other news, VP Robert Manne sold 5,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was 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 approximately $15,757,266.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value 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. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Creative Planning increased its position in shares of The Ultimate Software Group by 257.4% in the 2nd quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after buying an additional 363 shares in the last quarter. Huntington National Bank increased its position in shares of The Ultimate Software Group by 24.7% in the 2nd quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after buying an additional 170 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of The Ultimate Software Group by 23.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock valued at $183,000 after buying an additional 164 shares in the last quarter. FineMark National Bank & Trust bought a new stake in shares of The Ultimate Software Group in the 2nd quarter valued at $200,000. Finally, ETRADE Capital Management LLC bought a new stake in shares of The Ultimate Software Group in the 2nd quarter valued at $201,000.

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.

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