Pacific Crest assumed coverage on shares of The Ultimate Software Group Inc. (NASDAQ:ULTI) in a research note issued to investors on Monday. The brokerage issued an overweight rating and a $245.00 price objective on the stock.

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

Several other research analysts have also recently issued reports on ULTI. Roth Capital reissued a buy rating on shares of The Ultimate Software Group in a research report on Sunday, July 10th. Piper Jaffray Cos. began coverage on The Ultimate Software Group in a research report on Wednesday, June 1st. They issued an overweight rating and a $225.00 target price on the stock. Stifel Nicolaus raised their target price on The Ultimate Software Group from $220.00 to $235.00 and gave the stock a buy rating in a research report on Wednesday, July 27th. Zacks Investment Research cut The Ultimate Software Group from a buy rating to a hold rating in a research report on Wednesday, July 13th. Finally, Goldman Sachs Group Inc. started coverage on The Ultimate Software Group in a research report on Monday, May 23rd. They set a neutral rating and a $196.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $221.38.

Shares of The Ultimate Software Group (NASDAQ:ULTI) opened at 205.50 on Monday. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 321.60 and a beta of 1.26. The firm has a 50-day moving average price of $209.21 and a 200 day moving average price of $201.49. The Ultimate Software Group has a 52 week low of $148.26 and a 52 week high of $224.07.

The Ultimate Software Group (NASDAQ:ULTI) last announced its earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $187.06 million. The Ultimate Software Group had a return on equity of 3.71% and a net margin of 2.71%. The business’s revenue for the quarter was up 94.6% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. On average, analysts forecast that The Ultimate Software Group will post $3.29 EPS for the current fiscal year.

In related news, Director James A. Fitzpatrick, Jr. sold 913 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $209.06, for a total transaction of $190,871.78. Following the completion of the transaction, the director now owns 11,955 shares in the company, valued at approximately $2,499,312.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leroy Vander Putten sold 1,351 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $210.22, for a total value of $284,007.22. Following the transaction, the director now owns 21,934 shares of the company’s stock, valued at approximately $4,610,965.48. The disclosure for this sale can be found here. 5.60% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in The Ultimate Software Group during the fourth quarter worth about $43,315,000. GW&K Investment Management LLC boosted its position in The Ultimate Software Group by 40.9% in the first quarter. GW&K Investment Management LLC now owns 57,291 shares of the company’s stock worth $11,086,000 after buying an additional 16,633 shares during the last quarter. Summit Creek Advisors LLC boosted its position in The Ultimate Software Group by 38.4% in the first quarter. Summit Creek Advisors LLC now owns 54,082 shares of the company’s stock worth $10,465,000 after buying an additional 15,016 shares during the last quarter. Aperio Group LLC boosted its position in The Ultimate Software Group by 40.3% in the first quarter. Aperio Group LLC now owns 4,404 shares of the company’s stock worth $852,000 after buying an additional 1,266 shares during the last quarter. Finally, Icon Advisers Inc. Co. acquired a new position in The Ultimate Software Group during the first quarter worth about $5,108,000. Institutional investors own 97.62% of the company’s stock.

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, and includes global people management, available in over 10 languages with approximately 40 country-specific localizations.

5 Day Chart for NASDAQ:ULTI

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