Zacks: Brokerages Expect Ultimate Software Group, Inc. (ULTI) Will Announce Quarterly Sales of $268.84 Million

Equities research analysts expect Ultimate Software Group, Inc. (NASDAQ:ULTI) to report $268.84 million in sales for the current quarter, Zacks reports. Ten analysts have provided estimates for Ultimate Software Group’s earnings, with the lowest sales estimate coming in at $267.92 million and the highest estimate coming in at $271.00 million. Ultimate Software Group posted sales of $224.69 million in the same quarter last year, which suggests a positive year over year growth rate of 19.6%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 7th.

On average, analysts expect that Ultimate Software Group will report full year sales of $1.12 billion for the current year, with estimates ranging from $1.11 billion to $1.13 billion. For the next year, analysts anticipate that the business will report sales of $1.30 billion per share, with estimates ranging from $1.13 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Ultimate Software Group.

Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly earnings data on Tuesday, May 1st. The technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.13 by $0.17. The business had revenue of $277.00 million for the quarter, compared to analysts’ expectations of $270.80 million. Ultimate Software Group had a net margin of 2.90% and a return on equity of 6.24%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Ultimate Software Group from a “hold” rating to a “buy” rating and set a $252.00 price target on the stock in a research report on Saturday, February 3rd. Citigroup reissued an “overweight” rating and set a $232.00 price target on shares of Ultimate Software Group in a research report on Wednesday, February 7th. Wedbush reissued an “outperform” rating and set a $234.00 price target (up from $226.00) on shares of Ultimate Software Group in a research report on Wednesday, February 7th. Credit Suisse Group reissued an “outperform” rating and set a $255.00 price target (up from $245.00) on shares of Ultimate Software Group in a research report on Wednesday, February 7th. Finally, SunTrust Banks boosted their price target on shares of Ultimate Software Group to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Ultimate Software Group has a consensus rating of “Buy” and an average target price of $253.29.

In other news, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $247.12, for a total transaction of $1,235,600.00. Following the transaction, the vice president now directly owns 68,692 shares in the company, valued at approximately $16,975,167.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Felicia Alvaro sold 2,000 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $250.84, for a total transaction of $501,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 11,375 shares of company stock worth $2,819,786 over the last 90 days. 3.00% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ULTI. Bank of Montreal Can increased its stake in shares of Ultimate Software Group by 28.9% during the 4th quarter. Bank of Montreal Can now owns 15,445 shares of the technology company’s stock worth $3,370,000 after purchasing an additional 3,463 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Ultimate Software Group by 4.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 93,064 shares of the technology company’s stock worth $20,310,000 after purchasing an additional 4,294 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Ultimate Software Group during the 4th quarter worth about $458,000. SG Americas Securities LLC increased its stake in shares of Ultimate Software Group by 346.5% during the 4th quarter. SG Americas Securities LLC now owns 4,612 shares of the technology company’s stock worth $1,006,000 after purchasing an additional 3,579 shares during the last quarter. Finally, FineMark National Bank & Trust acquired a new position in Ultimate Software Group in the 4th quarter valued at about $217,000.

ULTI opened at $262.15 on Friday. The firm has a market capitalization of $8.04 billion, a P/E ratio of 323.64, a P/E/G ratio of 5.37 and a beta of 0.99. Ultimate Software Group has a 12 month low of $181.59 and a 12 month high of $268.15. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.01.

About 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.

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

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