Shares of The Ultimate Software Group Inc. (NASDAQ:ULTI) hit a new 52-week high during trading on Friday . The stock traded as high as $217.32 and last traded at $216.71, with a volume of 80,308 shares trading hands. The stock had previously closed at $214.45.

Several analysts recently commented on the stock. Piper Jaffray Cos. assumed coverage on shares of The Ultimate Software Group in a research report on Wednesday, June 1st. They set an “overweight” rating and a $225.00 price objective on the stock. Zacks Investment Research raised shares of The Ultimate Software Group from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Wednesday, June 29th. FBR & Co reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $205.00) on shares of The Ultimate Software Group in a report on Wednesday, April 27th. MKM Partners raised their price target on shares of The Ultimate Software Group from $220.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $203.00 price target (up previously from $194.00) on shares of The Ultimate Software Group in a report on Wednesday, April 27th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $215.45.

The company has a market cap of $6.24 billion and a PE ratio of 309.17. The stock’s 50 day moving average is $205.28 and its 200-day moving average is $187.82.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.07. During the same quarter in the previous year, the firm posted $0.52 EPS. The business had revenue of $187 million for the quarter, compared to analysts’ expectations of $180.16 million. The Ultimate Software Group’s revenue was up 29.2% on a year-over-year basis. On average, equities analysts expect that The Ultimate Software Group Inc. will post $3.30 EPS for the current year.

In related news, Director James A. Fitzpatrick, Jr. sold 931 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $199.38, for a total value of $185,622.78. Following the sale, the director now owns 12,403 shares in the company, valued at $2,472,910.14. The sale was disclosed in a legal filing with the SEC, which is available through this link.

A number of large investors have recently modified their holdings of ULTI. Quantitative Investment Management LLC raised its stake in shares of The Ultimate Software Group by 1.7% in the fourth quarter. Quantitative Investment Management LLC now owns 5,900 shares of the company’s stock worth $1,153,000 after buying an additional 100 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of The Ultimate Software Group by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,308 shares of the company’s stock worth $1,624,000 after buying an additional 55 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of The Ultimate Software Group during the fourth quarter worth approximately $1,780,000. Turner Investments L.P. raised its stake in shares of The Ultimate Software Group by 33.3% in the fourth quarter. Turner Investments L.P. now owns 10,000 shares of the company’s stock worth $1,955,000 after buying an additional 2,500 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of The Ultimate Software Group by 364.6% in the fourth quarter. Bank of Montreal Can now owns 11,165 shares of the company’s stock worth $2,183,000 after buying an additional 8,762 shares in the last quarter.

The Ultimate Software Group, Inc is a cloud provider of people management solutions, referred to as human capital management (HCM). The Company’s UltiPro product suite (UltiPro) is engaging solution that has human resources (HR), payroll, and benefits management and includes global people management, available in approximately 10 languages with over 35 country-specific localizations.

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