The Ultimate Software Group Inc. (NASDAQ:ULTI) shares gapped up before the market opened 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.

ULTI has been the subject of several research reports. Zacks Investment Research raised The Ultimate Software Group from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research report on Wednesday, June 29th. Roth Capital reissued a “buy” rating on shares of The Ultimate Software Group in a research report on Saturday, April 23rd. MKM Partners increased their target price on The Ultimate Software Group from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, April 27th. SunTrust Banks Inc. reissued a “buy” rating and issued a $243.00 target price on shares of The Ultimate Software Group in a research report on Thursday, May 5th. Finally, Canaccord Genuity reissued a “buy” rating on shares of The Ultimate Software Group in a research report on Tuesday, April 26th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The Ultimate Software Group has a consensus rating of “Buy” and an average price target of $220.20.

The company has a 50-day moving average price of $212.74 and a 200 day moving average price of $193.53. The company has a market cap of $6.22 billion and a P/E ratio of 336.15.

The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The business earned $186.50 million during the quarter, compared to the consensus estimate of $187.06 million. During the same period last year, the firm earned $0.62 EPS. The business’s quarterly revenue was up 94.6% on a year-over-year basis. Equities analysts anticipate that The Ultimate Software Group Inc. will post $3.29 earnings per share for the current year.

In other news, Director Leroy Vander Putten sold 1,351 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $210.22, for a total transaction of $284,007.22. Following the transaction, the director now directly owns 21,934 shares of the company’s stock, valued at $4,610,965.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 913 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $209.06, for a total value of $190,871.78. Following the transaction, the director now directly owns 11,955 shares in the company, valued at $2,499,312.30. The disclosure for this sale can be found here.

Several institutional investors have modified their holdings of the company. 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 worth $2,183,000 after buying an additional 8,762 shares during the last quarter. Employees Retirement System of Texas acquired a new position in shares of The Ultimate Software Group during the fourth quarter worth about $3,128,000. 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 worth $13,456,000 after buying an additional 39,572 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of The Ultimate Software Group by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 91,908 shares of the company’s stock worth $17,969,000 after buying an additional 2,645 shares during the last quarter. Finally, 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 worth $34,672,000 after buying an additional 2,515 shares during 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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