The Ultimate Software Group Inc. (ULTI) Stock Price Up 2%
The Ultimate Software Group Inc. (NASDAQ:ULTI)’s share price rose 2% on Thursday . The stock traded as high as $213.03 and last traded at $212.72, with a volume of 122,570 shares. The stock had previously closed at $208.65.
ULTI has been the subject of several research analyst reports. Zacks Investment Research cut The Ultimate Software Group from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 30th. Goldman Sachs Group Inc. initiated coverage on The Ultimate Software Group in a research note on Monday, May 23rd. They set a “neutral” rating and a $196.00 price target on the stock. SunTrust Banks Inc. restated a “buy” rating and set a $243.00 price target on shares of The Ultimate Software Group in a research note on Thursday, May 5th. Royal Bank Of Canada boosted their price target on The Ultimate Software Group from $202.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, April 27th. Finally, FBR & Co restated an “outperform” rating and set a $220.00 price target (up from $205.00) on shares of The Ultimate Software Group in a research note on Wednesday, April 27th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $220.20.
The stock has a market cap of $6.13 billion and a PE ratio of 331.41. The stock has a 50-day moving average of $213.37 and a 200-day moving average of $195.76.
The Ultimate Software Group (NASDAQ:ULTI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. During the same quarter last year, the business earned $0.62 earnings per share. The company had revenue of $186.50 million for the quarter, compared to analyst estimates of $187.06 million. The company’s revenue was up 94.6% on a year-over-year basis. On average, analysts expect that The Ultimate Software Group Inc. will post $3.29 earnings per share for the current year.
In other news, Director James A. Fitzpatrick, Jr. sold 913 shares of The Ultimate Software Group stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $209.06, for a total value of $190,871.78. Following the completion of the sale, the director now directly owns 11,955 shares in the company, valued at $2,499,312.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John C. Phenicie sold 3,504 shares of The Ultimate Software Group 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 completion of the sale, 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.
Several large investors have added to or reduced their stakes in the stock. Employees Retirement System of Texas acquired a new stake in The Ultimate Software Group during the fourth quarter worth $3,128,000. Morgan Stanley increased its stake in 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 stake in 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 stake in 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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