The Ultimate Software Group Inc. (NASDAQ:ULTI) reached a new 52-week high during trading on Monday . The stock traded as high as $222.52 and last traded at $221.50, with a volume of 146,795 shares trading hands. The stock had previously closed at $220.66.

Several equities research analysts recently commented on ULTI shares. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of The Ultimate Software Group in a research report on Tuesday, April 5th. Zacks Investment Research cut shares of The Ultimate Software Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 6th. MKM Partners reissued a “buy” rating and set a $220.00 price target on shares of The Ultimate Software Group in a research report on Tuesday, April 12th. Mitsubishi UFJ Financial Group initiated coverage on shares of The Ultimate Software Group in a research report on Monday, April 18th. They set an “overweight” rating and a $215.00 price target on the stock. Finally, Roth Capital reissued a “buy” rating on shares of The Ultimate Software Group in a research report on Saturday, April 23rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $216.20.

The firm has a 50 day moving average price of $211.09 and a 200 day moving average price of $190.43. The stock has a market capitalization of $6.41 billion and a P/E ratio of 317.35.

The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $186.50 million for the quarter, compared to the consensus estimate of $187.06 million. The firm’s revenue for the quarter was up 94.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, analysts forecast that The Ultimate Software Group Inc. will post $3.30 earnings per share for the current year.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 931 shares of The Ultimate Software Group stock in a transaction dated Thursday, April 28th. The shares were 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 of the company’s stock, valued at $2,472,910.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

A number of hedge funds recently made changes to their positions in 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 valued at $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 valued at $1,624,000 after buying an additional 55 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of The Ultimate Software Group during the fourth quarter valued at 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 valued at $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 valued at $2,183,000 after buying an additional 8,762 shares in the last quarter.

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, and includes global people management, available in over 10 languages with approximately 40 country-specific localizations.

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