The Ultimate Software Group Inc. (NASDAQ:ULTI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $211.35, but opened at $211.39. The Ultimate Software Group shares last traded at $213.14, with a volume of 76,376 shares changing hands.

Several equities analysts have commented on the company. Stifel Nicolaus upped their price target on The Ultimate Software Group from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Deutsche Bank AG increased their target price on The Ultimate Software Group from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. MKM Partners increased their target price on The Ultimate Software Group from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 target price on shares of The Ultimate Software Group in a report on Wednesday, July 27th. Finally, Wedbush reissued a “neutral” rating and issued a $203.00 target price on shares of The Ultimate Software Group in a report on Monday, July 25th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $220.20.

The company has a market cap of $6.21 billion and a P/E ratio of 335.90. The firm’s 50-day moving average price is $212.59 and its 200-day moving average price is $193.22.

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 business earned $186.50 million during the quarter, compared to analyst estimates of $187.06 million. The firm’s quarterly revenue was up 94.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, analysts forecast that The Ultimate Software Group Inc. will post $3.29 earnings per share for the current year.

In other The Ultimate Software Group news, Director Leroy Vander Putten sold 1,351 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $210.22, for a total transaction of $284,007.22. Following the completion of the transaction, the director now directly owns 21,934 shares in the company, valued at $4,610,965.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John C. Phenicie sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $209.45, for a total transaction of $733,912.80. Following the transaction, the vice president now owns 55,524 shares of the company’s stock, valued at $11,629,501.80. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in ULTI. Vanguard Group Inc. increased its position in shares of The Ultimate Software Group by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 1,879,648 shares of the company’s stock valued at $367,490,000 after buying an additional 48,250 shares in the last quarter. RS Investment Management Co. LLC increased its position in shares of The Ultimate Software Group by 24.3% in the fourth quarter. RS Investment Management Co. LLC now owns 743,053 shares of the company’s stock valued at $145,274,000 after buying an additional 145,120 shares in the last quarter. Morgan Stanley increased its position in shares of The Ultimate Software Group by 135.3% in the fourth quarter. Morgan Stanley now owns 68,827 shares of the company’s stock valued at $13,456,000 after buying an additional 39,572 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of The Ultimate Software Group by 1.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 177,339 shares of the company’s stock valued at $34,672,000 after buying an additional 2,515 shares in the last quarter. Finally, Bank of Montreal Can increased its position 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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