BidaskClub cut shares of The Ultimate Software Group (NASDAQ:ULTI) from a buy rating to a hold rating in a report issued on Tuesday.

Several other equities research analysts also recently issued reports on ULTI. ValuEngine downgraded shares of The Ultimate Software Group from a buy rating to a hold rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of The Ultimate Software Group from a strong-buy rating to a hold rating in a research report on Tuesday, July 3rd. Needham & Company LLC raised their price objective on shares of The Ultimate Software Group to $310.00 and gave the stock a $291.92 rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. JMP Securities raised their price objective on shares of The Ultimate Software Group from $280.00 to $317.00 and gave the stock a $293.94 rating in a research report on Monday, July 23rd. Finally, Wells Fargo & Co set a $330.00 price objective on shares of The Ultimate Software Group and gave the stock a buy rating in a research report on Tuesday, July 24th. Two 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. The stock has a consensus rating of Buy and an average target price of $298.29.

The Ultimate Software Group stock opened at $293.03 on Tuesday. The Ultimate Software Group has a 52 week low of $190.01 and a 52 week high of $332.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $10.05 billion, a P/E ratio of 361.77, a price-to-earnings-growth ratio of 5.91 and a beta of 1.02.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, July 31st. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.04. The firm had revenue of $271.16 million during 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%. As a group, sell-side analysts predict that The Ultimate Software Group will post 2.24 EPS for the current year.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 505 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $276.70, for a total transaction of $139,733.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Marc D. Scherr sold 10,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $279.41, for a total transaction of $2,794,100.00. Following the sale, the chairman now directly owns 202,571 shares in the company, valued at approximately $56,600,363.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,505 shares of company stock valued at $4,329,184. Company insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ULTI. Summit Trail Advisors LLC grew its stake in shares of The Ultimate Software Group by 23,735.4% in the first quarter. Summit Trail Advisors LLC now owns 115,840 shares of the technology company’s stock worth $116,000 after purchasing an additional 115,354 shares during the last quarter. We Are One Seven LLC grew its stake in shares of The Ultimate Software Group by 181.5% in the first quarter. We Are One Seven LLC now owns 729 shares of the technology company’s stock worth $178,000 after purchasing an additional 470 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of The Ultimate Software Group in the second quarter worth $201,000. Reliance Trust Co. of Delaware bought a new stake in shares of The Ultimate Software Group in the second quarter worth $202,000. Finally, Alps Advisors Inc. bought a new stake in shares of The Ultimate Software Group in the second quarter worth $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.

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

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