The Ultimate Software Group, Inc. (ULTI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) from a sell rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Ultimate Software is a leading provider of cloud-based human capital management solutions, with more than 33 million people records in the cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, and time and labor management solutions that connect people with the information they need to work more effectively. In 2017, Ultimate ranked #7 on Fortune’s 100 Best Companies to Work For list, its sixth consecutive year in the top 25; #7 on Forbes’ list of 100 Most Innovative Growth Companies; #2 on People’s 50 Companies That Care list; and the National Customer Service Association named Ultimate Service Organization of the Year in the Large-Business category. Ultimate has more than 3,700 customers with employees in 160 countries, including Bloomin’ Brands, Culligan International, Feeding America, Major League Baseball, Red Roof Inn, SUBWAY, Texas Roadhouse, and Yamaha Corporation of America. “

A number of other analysts have also commented on ULTI. 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. Credit Suisse Group reissued an outperform rating and issued a $245.00 target price (down previously from $260.00) on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. KeyCorp reaffirmed a buy rating on shares of The Ultimate Software Group in a report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a buy rating and issued a $210.00 price objective on shares of The Ultimate Software Group in a report on Friday, October 20th. Finally, Stephens reiterated an equal weight rating and set a $203.00 target price (down from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $234.94.

Shares of The Ultimate Software Group (ULTI) traded up 0.70% during midday trading on Tuesday, reaching $204.01. The company had a trading volume of 702,266 shares. The company has a market capitalization of $6.09 billion, a P/E ratio of 210.54 and a beta of 1.07. The company has a 50-day moving average price of $191.32 and a 200 day moving average price of $204.85. The Ultimate Software Group has a one year low of $180.29 and a one year high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.03). The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The company had revenue of $224.70 million for the quarter, compared to the consensus estimate of $228.02 million. During the same period last year, the business earned $0.76 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts anticipate that The Ultimate Software Group will post $3.54 earnings per share for the current fiscal year.

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In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $924,399.07. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $3,005,850. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert Manne sold 5,000 shares of the company’s 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 sale, the vice president now owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Balyasny Asset Management LLC lifted its holdings in The Ultimate Software Group by 0.6% during the second quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after buying an additional 10 shares during the period. M&T Bank Corp lifted its holdings in shares of The Ultimate Software Group by 1.0% during the 2nd quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock valued at $1,184,000 after purchasing an additional 56 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Ultimate Software Group by 5.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock valued at $241,000 after purchasing an additional 57 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of The Ultimate Software Group by 3.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,258 shares of the technology company’s stock valued at $474,000 after purchasing an additional 69 shares during the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of The Ultimate Software Group by 3.7% during the 2nd quarter. World Asset Management Inc now owns 2,122 shares of the technology company’s stock valued at $446,000 after purchasing an additional 75 shares during the last quarter.

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.

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