The Ultimate Software Group, Inc. (NASDAQ:ULTI) – Stock analysts at Wedbush reduced their Q1 2018 EPS estimates for The Ultimate Software Group in a research report issued on Tuesday. Wedbush analyst S. Koenig now anticipates that the technology company will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.26. Wedbush also issued estimates for The Ultimate Software Group’s Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $1.45 EPS.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The business’s revenue was up 20.4% on a year-over-year basis.

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ULTI has been the topic of a number of other reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $250.00 price objective on shares of The Ultimate Software Group in a research report on Saturday, July 22nd. Credit Suisse Group restated an “outperform” rating and set a $245.00 price target (down from $260.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. KeyCorp restated a “buy” rating on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Stephens restated an “equal weight” rating and set a $203.00 price target (down from $215.00) on shares of The Ultimate Software Group in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $216.00 price target (down from $233.00) on shares of The Ultimate Software Group in a research report on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $235.29.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $924,399.07. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $3,005,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $200.39, for a total value of $1,001,950.00. Following the completion of the transaction, the vice president now owns 78,633 shares of the company’s stock, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Balyasny Asset Management LLC raised its stake in shares of The Ultimate Software Group by 0.6% in the second quarter. Balyasny Asset Management LLC now owns 1,668 shares of the technology company’s stock worth $350,000 after purchasing an additional 10 shares during the last quarter. M&T Bank Corp raised its stake in shares of The Ultimate Software Group by 1.0% in the second quarter. M&T Bank Corp now owns 5,641 shares of the technology company’s stock worth $1,184,000 after purchasing an additional 56 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Ultimate Software Group by 5.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,147 shares of the technology company’s stock worth $241,000 after purchasing an additional 57 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of The Ultimate Software Group by 3.2% in the second quarter. Teacher Retirement System of Texas now owns 2,258 shares of the technology company’s stock worth $474,000 after purchasing an additional 69 shares during the last quarter. Finally, World Asset Management Inc raised its stake in shares of The Ultimate Software Group by 3.7% in the second quarter. World Asset Management Inc now owns 2,122 shares of the technology company’s stock worth $446,000 after purchasing an additional 75 shares during the last quarter.

About The Ultimate Software Group

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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