The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Equities researchers at Wedbush cut their Q3 2017 earnings per share (EPS) estimates for shares of The Ultimate Software Group in a report issued on Wednesday. Wedbush analyst S. Koenig now expects that the technology company will earn $0.17 per share for the quarter, down from their prior forecast of $0.41. Wedbush currently has a “Outperform” rating and a $236.00 price objective on the stock. Wedbush also issued estimates for The Ultimate Software Group’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $0.68 EPS and FY2018 earnings at $1.66 EPS.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.18 earnings per share (EPS) 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 firm had revenue of $224.70 million during the quarter, compared to analysts’ expectations of $228.02 million. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year.

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Other equities research analysts also recently issued reports about the company. Canaccord Genuity reissued a “buy” rating and issued a $240.00 price objective on shares of The Ultimate Software Group in a research note on Friday, April 21st. Guggenheim reissued a “buy” rating and issued a $230.00 price objective on shares of The Ultimate Software Group in a research note on Tuesday, April 18th. MKM Partners reissued a “buy” rating and issued a $250.00 price objective on shares of The Ultimate Software Group in a research note on Friday, April 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $233.00 price objective on shares of The Ultimate Software Group in a research note on Monday, May 29th. Finally, BidaskClub downgraded 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 Ultimate Software Group currently has an average rating of “Buy” and a consensus price target of $236.78.

Shares of The Ultimate Software Group (NASDAQ ULTI) opened at 193.20 on Monday. The Ultimate Software Group has a one year low of $180.29 and a one year high of $233.42. The company has a 50 day moving average of $217.85 and a 200-day moving average of $206.02. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 199.38 and a beta of 1.08.

In other news, VP Robert Manne sold 5,000 shares of the 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 of the company’s stock, valued at approximately $15,757,266.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $200.39, for a total value of $924,399.07. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $3,005,850. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ULTI. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of The Ultimate Software Group by 463.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 109,036 shares of the technology company’s stock valued at $21,284,000 after buying an additional 89,696 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of The Ultimate Software Group by 24.1% in the first quarter. Russell Investments Group Ltd. now owns 200,846 shares of the technology company’s stock valued at $39,212,000 after buying an additional 39,052 shares during the last quarter. Profund Advisors LLC increased its stake in shares of The Ultimate Software Group by 11.7% in the first quarter. Profund Advisors LLC now owns 4,059 shares of the technology company’s stock valued at $792,000 after buying an additional 425 shares during the last quarter. NBW Capital LLC increased its stake in shares of The Ultimate Software Group by 6.5% in the first quarter. NBW Capital LLC now owns 27,238 shares of the technology company’s stock valued at $5,317,000 after buying an additional 1,669 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of The Ultimate Software Group by 2.3% in the first quarter. Retirement Systems of Alabama now owns 38,296 shares of the technology company’s stock valued at $7,476,000 after buying an additional 848 shares during the last quarter.

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.

Earnings History and Estimates for The Ultimate Software Group (NASDAQ:ULTI)

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