The Ultimate Software Group (NASDAQ:ULTI) had its price objective raised by Bank of America from $187.00 to $210.00 in a research report report published on Thursday. The firm currently has an underperform rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Guggenheim restated a buy rating and set a $245.00 target price on shares of The Ultimate Software Group in a report on Thursday, January 11th. Piper Jaffray Companies restated an overweight rating and set a $250.00 target price on shares of The Ultimate Software Group in a report on Tuesday, January 16th. Citigroup reaffirmed an overweight rating and set a $232.00 price target on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. Wedbush reaffirmed an outperform rating and set a $234.00 price target (up from $226.00) on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $255.00 price target (up from $245.00) on shares of The Ultimate Software Group in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company. The Ultimate Software Group currently has an average rating of Buy and a consensus target price of $243.90.

The Ultimate Software Group (NASDAQ:ULTI) opened at $228.87 on Thursday. The Ultimate Software Group has a 1-year low of $181.59 and a 1-year high of $242.93. The company has a market cap of $6,837.72, a price-to-earnings ratio of 476.81, a P/E/G ratio of 7.38 and a beta of 1.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.24. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The business had revenue of $251.43 million during the quarter, compared to analysts’ expectations of $244.83 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. analysts forecast that The Ultimate Software Group will post 1.83 EPS for the current fiscal year.

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

A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in The Ultimate Software Group by 10.5% during the third quarter. Janus Henderson Group PLC now owns 2,480,892 shares of the technology company’s stock worth $470,377,000 after acquiring an additional 235,848 shares during the period. BlackRock Inc. increased its position in The Ultimate Software Group by 0.7% during the fourth quarter. BlackRock Inc. now owns 2,379,320 shares of the technology company’s stock worth $519,239,000 after acquiring an additional 15,810 shares during the period. Wells Fargo & Company MN increased its position in The Ultimate Software Group by 2.7% during the third quarter. Wells Fargo & Company MN now owns 1,206,051 shares of the technology company’s stock worth $228,666,000 after acquiring an additional 31,945 shares during the period. Wasatch Advisors Inc. increased its position in The Ultimate Software Group by 4.0% during the second quarter. Wasatch Advisors Inc. now owns 885,221 shares of the technology company’s stock worth $185,950,000 after acquiring an additional 33,692 shares during the period. Finally, State Street Corp increased its position in The Ultimate Software Group by 1.5% during the second quarter. State Street Corp now owns 756,678 shares of the technology company’s stock worth $158,949,000 after acquiring an additional 11,076 shares during the period.

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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)

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