BidaskClub downgraded shares of The Ultimate Software Group (NASDAQ:ULTI) from a hold rating to a sell rating in a research report released on Wednesday morning.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group cut their price objective on The Ultimate Software Group to $330.00 and set a buy rating on the stock in a report on Wednesday, October 31st. Bank of America upped their target price on The Ultimate Software Group from $258.00 to $266.00 and gave the stock an underperform rating in a research note on Wednesday, September 26th. Needham & Company LLC upped their target price on The Ultimate Software Group to $370.00 and gave the stock a buy rating in a research note on Monday, September 17th. Piper Jaffray Companies restated an overweight rating and issued a $360.00 target price on shares of The Ultimate Software Group in a research note on Monday, August 27th. Finally, Guggenheim began coverage on The Ultimate Software Group in a research note on Monday, August 20th. They issued a neutral rating and a $300.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $296.38.

Shares of ULTI stock traded up $0.79 during mid-day trading on Wednesday, reaching $257.73. The stock had a trading volume of 280,897 shares, compared to its average volume of 353,372. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.04. The firm has a market capitalization of $8.32 billion, a PE ratio of 318.19, a P/E/G ratio of 5.94 and a beta of 1.19. The Ultimate Software Group has a 1-year low of $193.08 and a 1-year high of $332.43.

The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. The business had revenue of $287.83 million for the quarter, compared to analyst estimates of $287.22 million. The Ultimate Software Group had a return on equity of 8.18% and a net margin of 4.57%. The company’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. Sell-side analysts forecast that The Ultimate Software Group will post 2.11 earnings per share for the current year.

In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 494 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $267.20, for a total transaction of $131,996.80. Following the transaction, the director now owns 9,969 shares in the company, valued at $2,663,716.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory Swick sold 4,252 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $257.00, for a total value of $1,092,764.00. Following the transaction, the vice president now owns 25,460 shares in the company, valued at approximately $6,543,220. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of ULTI. First Hawaiian Bank purchased a new position in The Ultimate Software Group during the third quarter worth approximately $109,000. Kornitzer Capital Management Inc. KS purchased a new position in The Ultimate Software Group during the second quarter worth approximately $201,000. Reliance Trust Co. of Delaware purchased a new position in The Ultimate Software Group during the second quarter worth approximately $202,000. Sawtooth Solutions LLC purchased a new position in The Ultimate Software Group during the second quarter worth approximately $205,000. Finally, Alps Advisors Inc. purchased a new position in The Ultimate Software Group during the second quarter worth approximately $205,000. Institutional investors own 99.98% of the company’s stock.

The Ultimate Software Group Company Profile

The Ultimate Software Group, Inc provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada. The company's UltiPro software solution delivers the functionality businesses to manage the employee life cycle from recruitment to retirement.

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

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