BidaskClub lowered shares of The Ultimate Software Group (NASDAQ:ULTI) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other brokerages have also recently issued reports on ULTI. Stifel Nicolaus raised their price objective on The Ultimate Software Group from $235.00 to $250.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Mizuho reaffirmed a hold rating and set a $200.00 price objective on shares of The Ultimate Software Group in a research note on Thursday, December 14th. Royal Bank of Canada reaffirmed a buy rating and set a $216.00 price objective on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Zacks Investment Research raised The Ultimate Software Group from a sell rating to a hold rating in a research note on Wednesday, October 11th. Finally, SunTrust Banks reaffirmed a buy rating and set a $225.00 price objective on shares of The Ultimate Software Group in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. The Ultimate Software Group currently has a consensus rating of Buy and a consensus target price of $232.37.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded down $0.84 during trading hours on Thursday, hitting $227.99. The stock had a trading volume of 204,502 shares, compared to its average volume of 199,121. The Ultimate Software Group has a 52-week low of $181.59 and a 52-week high of $233.42. The company has a market capitalization of $6,811.43, a PE ratio of 217.13, a P/E/G ratio of 8.51 and a beta of 1.08. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The firm had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $232.92 million. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. research analysts expect that The Ultimate Software Group will post 0.63 EPS for the current fiscal year.

In other The Ultimate Software Group news, Director Alois T. Leiter sold 5,559 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $198.16, for a total value of $1,101,571.44. Following the completion of the sale, the director now directly owns 165,596 shares in the company, valued at $32,814,503.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott Scherr sold 43,537 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $196.21, for a total transaction of $8,542,394.77. Following the completion of the sale, the chairman now owns 426,427 shares of the company’s stock, valued at $83,669,241.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,259 shares of company stock valued at $22,912,048. 4.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue purchased a new stake in The Ultimate Software Group in the fourth quarter worth about $458,000. Schwab Charles Investment Management Inc. lifted its holdings in The Ultimate Software Group by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 93,064 shares of the technology company’s stock worth $20,310,000 after buying an additional 4,294 shares during the period. Bank of Montreal Can lifted its holdings in The Ultimate Software Group by 28.9% in the fourth quarter. Bank of Montreal Can now owns 15,445 shares of the technology company’s stock worth $3,370,000 after buying an additional 3,463 shares during the period. Summit Creek Advisors LLC lifted its holdings in The Ultimate Software Group by 25.2% in the fourth quarter. Summit Creek Advisors LLC now owns 64,790 shares of the technology company’s stock worth $14,139,000 after buying an additional 13,055 shares during the period. Finally, AXA lifted its holdings in The Ultimate Software Group by 16.6% in the third quarter. AXA now owns 292,160 shares of the technology company’s stock worth $55,394,000 after buying an additional 41,532 shares during the period.

TRADEMARK VIOLATION NOTICE: “The Ultimate Software Group (ULTI) Downgraded to Hold at BidaskClub” was published by Daily Political and is owned by of Daily Political. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2018/01/21/the-ultimate-software-group-ulti-downgraded-to-hold-at-bidaskclub.html.

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.

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

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