Brokerages Set The Ultimate Software Group, Inc. (ULTI) Target Price at $315.25

The Ultimate Software Group, Inc. (NASDAQ:ULTI) has been given an average rating of “Hold” by the twenty-six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $315.25.

A number of equities analysts have issued reports on the company. ValuEngine lowered The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. BidaskClub lowered The Ultimate Software Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Zacks Investment Research lowered The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lowered The Ultimate Software Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada lowered The Ultimate Software Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $340.00 to $331.50 in a research note on Tuesday, March 26th.

In other news, CEO Scott Scherr sold 70,809 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $331.68, for a total value of $23,485,929.12. Following the completion of the sale, the chief executive officer now owns 251,777 shares in the company, valued at $83,509,395.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Felicia Alvaro sold 3,929 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $331.95, for a total value of $1,304,231.55. Following the completion of the sale, the chief financial officer now owns 42,680 shares of the company’s stock, valued at approximately $14,167,626. The disclosure for this sale can be found here. Insiders sold 152,522 shares of company stock valued at $50,593,109 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lee Capital Asset Management LLC purchased a new stake in shares of The Ultimate Software Group during the fourth quarter worth $3,778,000. Tygh Capital Management Inc. raised its holdings in shares of The Ultimate Software Group by 68.9% during the fourth quarter. Tygh Capital Management Inc. now owns 52,249 shares of the technology company’s stock worth $12,794,000 after acquiring an additional 21,319 shares in the last quarter. Cowbird Capital LP purchased a new stake in shares of The Ultimate Software Group during the fourth quarter worth $7,197,000. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of The Ultimate Software Group during the fourth quarter worth $4,361,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of The Ultimate Software Group by 0.7% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 32,053 shares of the technology company’s stock worth $7,848,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

NASDAQ ULTI traded up $0.08 on Wednesday, reaching $330.38. 5,329 shares of the stock traded hands, compared to its average volume of 617,567. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $10.47 billion, a P/E ratio of 138.22, a PEG ratio of 6.49 and a beta of 1.33. The Ultimate Software Group has a 12 month low of $219.97 and a 12 month high of $365.86.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Monday, February 4th. The technology company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $1.37. The firm had revenue of $304.80 million during the quarter, compared to analyst estimates of $300.60 million. The Ultimate Software Group had a return on equity of 9.90% and a net margin of 5.71%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the company posted $1.11 EPS. On average, research analysts predict that The Ultimate Software Group will post 2.4 earnings per share for the current fiscal year.

About The Ultimate Software Group

The Ultimate Software Group, Inc provides cloud-based human capital management solutions to enterprise companies, mid-market companies, and companies in the strategic market in the United States, Canada, Europe, the Asia Pacific, and internationally. Its UltiPro software solution delivers the functionality businesses need to manage the employee life cycle from recruitment to retirement.

Further Reading: Are sell-side analysts objective?

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

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