Citigroup reaffirmed their overweight rating on shares of The Ultimate Software Group (NASDAQ:ULTI) in a research report sent to investors on Wednesday. They currently have a $232.00 target price on the technology company’s stock.

Several other research analysts also recently weighed in on the company. Zacks Investment Research upgraded The Ultimate Software Group from a hold rating to a buy rating and set a $252.00 target price on the stock in a research note on Saturday, February 3rd. Wells Fargo & Co restated an outperform rating and set a $290.00 target price (up from $240.00) on shares of The Ultimate Software Group in a research note on Wednesday, January 31st. Royal Bank of Canada boosted their target price on The Ultimate Software Group to $260.00 and gave the stock a positive rating in a research note on Tuesday, January 30th. BidaskClub downgraded The Ultimate Software Group from a buy rating to a hold rating in a research note on Thursday, January 18th. Finally, Piper Jaffray Companies reiterated an overweight rating and set a $250.00 price target on shares of The Ultimate Software Group in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $243.90.

The Ultimate Software Group (ULTI) opened at $228.87 on Wednesday. The Ultimate Software Group has a one year low of $181.59 and a one year high of $242.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $6,635.11, a price-to-earnings ratio of 476.81, a P/E/G ratio of 7.16 and a beta of 1.07.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.24. The Ultimate Software Group had a return on equity of 5.31% and a net margin of 1.59%. The firm had revenue of $251.43 million for the quarter, compared to the consensus estimate of $244.83 million. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. analysts predict that The Ultimate Software Group will post 1.44 earnings per share for the current year.

In other news, Director James A. Fitzpatrick, Jr. sold 4,230 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $228.63, for a total value of $967,104.90. Following the completion of the transaction, the director now owns 9,145 shares of the company’s stock, valued at approximately $2,090,821.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $228.85, for a total value of $1,144,250.00. Following the completion of the transaction, the vice president now directly owns 63,873 shares of the company’s stock, valued at approximately $14,617,336.05. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. lifted its holdings in shares of The Ultimate Software Group by 20.1% in the 4th quarter. Baird Financial Group Inc. now owns 238,746 shares of the technology company’s stock valued at $52,102,000 after buying an additional 40,003 shares during the period. American International Group Inc. lifted its holdings in shares of The Ultimate Software Group by 1.4% in the 4th quarter. American International Group Inc. now owns 58,805 shares of the technology company’s stock valued at $12,833,000 after buying an additional 837 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of The Ultimate Software Group by 6.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 215,506 shares of the technology company’s stock valued at $47,030,000 after buying an additional 12,874 shares during the period. BlackRock Inc. lifted its holdings in shares of The Ultimate Software Group by 0.7% in the 4th quarter. BlackRock Inc. now owns 2,379,320 shares of the technology company’s stock valued at $519,239,000 after buying an additional 15,810 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of The Ultimate Software Group by 55.0% in the 4th quarter. Schroder Investment Management Group now owns 4,136 shares of the technology company’s stock valued at $903,000 after buying an additional 1,467 shares during the period.

COPYRIGHT VIOLATION NOTICE: “The Ultimate Software Group’s (ULTI) “Overweight” Rating Reiterated at Citigroup” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://theolympiareport.com/2018/02/11/the-ultimate-software-groups-ulti-overweight-rating-reiterated-at-citigroup.html.

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.

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.