Stephens restated their equal weight rating on shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) in a report released on Wednesday morning, The Fly reports. The brokerage currently has a $203.00 price objective on the technology company’s stock, down from their previous price objective of $215.00.

Other analysts have also issued reports about the company. Royal Bank Of Canada restated a buy rating and issued a $233.00 target price on shares of The Ultimate Software Group in a research note on Monday, May 29th. Canaccord Genuity restated a buy rating and issued a $240.00 target price on shares of The Ultimate Software Group in a research note on Thursday, May 25th. Guggenheim restated a buy rating and issued a $230.00 target price on shares of The Ultimate Software Group in a research note on Tuesday, April 18th. MKM Partners restated a buy rating and issued a $250.00 target price on shares of The Ultimate Software Group in a research note on Friday, April 14th. Finally, BidaskClub lowered The Ultimate Software Group from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $236.78.

The Ultimate Software Group (ULTI) traded down 2.18% during midday trading on Wednesday, reaching $196.24. 300,177 shares of the company traded hands. The company has a 50-day moving average price of $217.85 and a 200-day moving average price of $206.02. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $233.42. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 202.52 and a beta of 1.08.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.03. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The business had revenue of $224.70 million during the quarter, compared to analyst estimates of $228.02 million. During the same quarter last year, the business posted $0.76 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, analysts predict that The Ultimate Software Group will post $3.53 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by Daily Political and is owned by of Daily Political. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.dailypolitical.com/2017/08/05/the-ultimate-software-groups-nasdaqulti-equal-weight-rating-reaffirmed-at-stephens.html.

In other The Ultimate Software Group news, VP Robert Manne sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total transaction of $1,001,950.00. Following the transaction, the vice president now owns 78,633 shares in the company, valued at $15,757,266.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ULTI. Tocqueville Asset Management L.P. boosted its position in The Ultimate Software Group by 10.3% in the second quarter. Tocqueville Asset Management L.P. now owns 6,425 shares of the technology company’s stock valued at $1,350,000 after buying an additional 600 shares during the period. State Board of Administration of Florida Retirement System boosted its position in The Ultimate Software Group by 1.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 40,296 shares of the technology company’s stock valued at $8,465,000 after buying an additional 716 shares during the period. William Blair Investment Management LLC boosted its position in The Ultimate Software Group by 30.4% in the second quarter. William Blair Investment Management LLC now owns 99,926 shares of the technology company’s stock valued at $20,990,000 after buying an additional 23,287 shares during the period. Turner Investments LLC boosted its position in The Ultimate Software Group by 33.3% in the second quarter. Turner Investments LLC now owns 1,000 shares of the technology company’s stock valued at $210,000 after buying an additional 250 shares during the period. Finally, Blair William & Co. IL boosted its position in The Ultimate Software Group by 4.5% in the second quarter. Blair William & Co. IL now owns 490,948 shares of the technology company’s stock valued at $103,128,000 after buying an additional 21,328 shares during the period.

The Ultimate Software Group Company Profile

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. As of December 31, 2016, UltiPro included global people management, available in 14 languages with more than 35 country-specific localizations.

The Fly

Analyst Recommendations for The Ultimate Software Group (NASDAQ:ULTI)

Receive News & Ratings for The Ultimate Software Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Ultimate Software Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.