The Ultimate Software Group, Inc. (NASDAQ:ULTI) has been assigned a consensus recommendation of “Hold” from the twenty-four ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $318.73.
Several equities analysts have recently issued reports on ULTI shares. SunTrust Banks downgraded shares of The Ultimate Software Group from a “buy” rating to a “hold” rating and set a $332.93 price objective on the stock. in a report on Wednesday, February 20th. BidaskClub lowered The Ultimate Software Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 20th. William Blair lowered The Ultimate Software Group from an “outperform” rating to a “market perform” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. lowered The Ultimate Software Group from an “overweight” rating to a “neutral” rating in a report on Wednesday, March 27th. Finally, Royal Bank of Canada lowered The Ultimate Software Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $340.00 to $331.50 in a report on Tuesday, March 26th.
In related news, VP Adam Rogers sold 5,495 shares of the business’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $331.91, for a total transaction of $1,823,845.45. Following the transaction, the vice president now directly owns 56,667 shares in the company, valued at $18,808,343.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Felicia Alvaro sold 3,929 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 42,680 shares in the company, valued at $14,167,626. The disclosure for this sale can be found here. Insiders sold 146,991 shares of company stock worth $48,756,967 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Carroll Financial Associates Inc. boosted its holdings in The Ultimate Software Group by 66.2% during the first quarter. Carroll Financial Associates Inc. now owns 108 shares of the technology company’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of The Ultimate Software Group by 72.2% in the 4th quarter. Advisory Services Network LLC now owns 155 shares of the technology company’s stock worth $38,000 after purchasing an additional 65 shares during the period. Executive Wealth Management LLC purchased a new stake in shares of The Ultimate Software Group in the 4th quarter worth about $41,000. Fort L.P. purchased a new stake in shares of The Ultimate Software Group in the 4th quarter worth about $84,000. Finally, Icon Wealth Partners LLC purchased a new stake in shares of The Ultimate Software Group in the 1st quarter worth about $84,000. Hedge funds and other institutional investors own 91.20% of the company’s stock.
Shares of ULTI remained flat at $$331.36 during trading hours on Friday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 138.64, a PEG ratio of 6.51 and a beta of 1.29. The Ultimate Software Group has a twelve month low of $219.97 and a twelve month high of $365.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.02 and a quick ratio of 1.02.
The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Monday, February 4th. The technology company reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $1.37. The Ultimate Software Group had a net margin of 4.78% and a return on equity of 8.84%. The company had revenue of $304.80 million during the quarter, compared to analyst estimates of $300.60 million. During the same period in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate 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.
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