The Ultimate Software Group (ULTI) Rating Lowered to Hold at BidaskClub

The Ultimate Software Group (NASDAQ:ULTI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other research firms also recently issued reports on ULTI. Mitsubishi UFJ Financial Group upped their price target on shares of The Ultimate Software Group to $302.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. ValuEngine downgraded shares of The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Needham & Company LLC increased their target price on shares of The Ultimate Software Group to $310.00 and gave the company a “$291.92” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. SunTrust Banks increased their target price on shares of The Ultimate Software Group to $310.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Jefferies Financial Group initiated coverage on shares of The Ultimate Software Group in a research note on Monday, October 1st. They issued a “buy” rating and a $370.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $298.29.

The Ultimate Software Group stock opened at $291.22 on Tuesday. The firm has a market cap of $10.05 billion, a P/E ratio of 359.53, a price-to-earnings-growth ratio of 5.91 and a beta of 1.02. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The Ultimate Software Group has a 52-week low of $190.01 and a 52-week high of $332.43.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.04. The company had revenue of $271.16 million for the quarter, compared to the consensus estimate of $268.84 million. The Ultimate Software Group had a net margin of 3.60% and a return on equity of 7.74%. On average, equities research analysts predict that The Ultimate Software Group will post 2.24 earnings per share for the current fiscal year.

In related news, Director James A. Fitzpatrick, Jr. sold 505 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $276.70, for a total value of $139,733.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John C. Phenicie sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $279.07, for a total transaction of $1,395,350.00. The disclosure for this sale can be found here. In the last three months, insiders sold 15,505 shares of company stock worth $4,329,184. Insiders own 3.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ULTI. Summit Trail Advisors LLC increased its stake in The Ultimate Software Group by 23,735.4% in the 1st quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock worth $116,000 after buying an additional 115,354 shares during the period. We Are One Seven LLC grew its holdings in The Ultimate Software Group by 181.5% during the 1st quarter. We Are One Seven LLC now owns 729 shares of the technology company’s stock worth $178,000 after acquiring an additional 470 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in The Ultimate Software Group during the 2nd quarter worth about $201,000. Reliance Trust Co. of Delaware bought a new position in The Ultimate Software Group during the 2nd quarter worth about $202,000. Finally, Alps Advisors Inc. bought a new position in The Ultimate Software Group during the 2nd quarter worth about $205,000.

About The Ultimate Software Group

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 to manage the employee life cycle from recruitment to retirement.

Read More: Closed-End Mutual Funds (CEFs)

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

Receive News & Ratings for The Ultimate Software Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply