The Ultimate Software Group Inc. (ULTI) Trading 2% Higher
Shares of The Ultimate Software Group Inc. (NASDAQ:ULTI) traded up 2% during trading on Thursday . The company traded as high as $213.03 and last traded at $212.72, with a volume of 122,570 shares changing hands. The stock had previously closed at $208.65.
A number of analysts recently commented on the company. Roth Capital reaffirmed a “buy” rating on shares of The Ultimate Software Group in a research note on Sunday, July 10th. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $243.00 price objective on shares of The Ultimate Software Group in a research note on Thursday, May 5th. Piper Jaffray Cos. assumed coverage on The Ultimate Software Group in a research note on Wednesday, June 1st. They set an “overweight” rating and a $225.00 price objective on the stock. Stifel Nicolaus increased their price objective on The Ultimate Software Group from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Zacks Investment Research lowered The Ultimate Software Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $220.20.
The company has a market cap of $6.12 billion and a price-to-earnings ratio of 330.70. The company’s 50 day moving average is $213.29 and its 200 day moving average is $196.16.
The Ultimate Software Group (NASDAQ:ULTI) last posted its quarterly 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 business had revenue of $186.50 million for the quarter, compared to analyst estimates of $187.06 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 94.6% on a year-over-year basis. Analysts predict that The Ultimate Software Group Inc. will post $3.29 earnings per share for the current year.
In related news, 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 transaction of $190,871.78. Following the transaction, the director now directly owns 11,955 shares of the company’s stock, valued at $2,499,312.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leroy Vander Putten sold 1,351 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $210.22, for a total value of $284,007.22. Following the transaction, the director now directly owns 21,934 shares in the company, valued at $4,610,965.48. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of ULTI. Employees Retirement System of Texas acquired a new position in The Ultimate Software Group during the fourth quarter valued at $3,128,000. Morgan Stanley raised its position in 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 during the last quarter. Finally, Principal Financial Group Inc. raised its position 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 valued at $17,969,000 after buying an additional 2,645 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.