Shares of The Ultimate Software Group Inc. (NASDAQ:ULTI) fell 7.2% during trading on Wednesday . The company traded as low as $205.01 and last traded at $205.94, with a volume of 478,354 shares changing hands. The stock had previously closed at $221.83.

A number of brokerages have commented on ULTI. Roth Capital reaffirmed a “buy” rating on shares of The Ultimate Software Group in a report on Sunday, July 10th. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $243.00 target price on shares of The Ultimate Software Group in a report on Thursday, May 5th. Piper Jaffray Cos. began coverage on shares of The Ultimate Software Group in a report on Wednesday, June 1st. They set an “overweight” rating and a $225.00 target price for the company. Stifel Nicolaus upped their target price on shares of The Ultimate Software Group from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of The Ultimate Software Group in a report on Tuesday, April 26th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $220.20.

The firm’s 50 day moving average is $211.09 and its 200 day moving average is $190.43. The stock has a market cap of $6.35 billion and a price-to-earnings ratio of 314.51.

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

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

A number of large investors recently added to or reduced their stakes in ULTI. Quantitative Investment Management LLC boosted its stake in 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 boosted its stake in 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. bought a new stake in The Ultimate Software Group during the fourth quarter worth about $1,780,000. Turner Investments L.P. boosted its stake in 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 boosted its stake in 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 (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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