Brokerages Expect The Ultimate Software Group, Inc. (ULTI) Will Announce Earnings of $0.87 Per Share
Brokerages expect The Ultimate Software Group, Inc. (NASDAQ:ULTI) to post earnings of $0.87 per share for the current quarter, Zacks reports. Eleven analysts have provided estimates for The Ultimate Software Group’s earnings. The highest EPS estimate is $0.92 and the lowest is $0.84. The Ultimate Software Group reported earnings per share of $0.91 in the same quarter last year, which indicates a negative year over year growth rate of 4.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that The Ultimate Software Group will report full year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.54 to $3.66. For the next fiscal year, analysts forecast that the business will post earnings of $4.50 per share, with EPS estimates ranging from $4.27 to $4.62. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow The Ultimate Software Group.
The Ultimate Software Group (NASDAQ:ULTI) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.17. The company had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $232.92 million. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The Ultimate Software Group’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share.
ULTI has been the subject of several recent research reports. Roth Capital lifted their price target on The Ultimate Software Group from $254.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and set a $235.00 price target on shares of The Ultimate Software Group in a research report on Friday, July 28th. KeyCorp set a $255.00 price target on The Ultimate Software Group and gave the company a “buy” rating in a research report on Thursday, July 27th. Canaccord Genuity reduced their price target on The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $216.00 price objective on shares of The Ultimate Software Group in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $231.58.
The Ultimate Software Group (NASDAQ ULTI) opened at $196.98 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5,920.00, a P/E ratio of 189.20, a P/E/G ratio of 15.40 and a beta of 1.09. The Ultimate Software Group has a 12-month low of $180.29 and a 12-month high of $233.42.
In other The Ultimate Software Group news, Chairman Scott Scherr sold 43,537 shares of the business’s stock in a transaction on 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 transaction, the chairman now owns 426,427 shares of the company’s stock, valued at $83,669,241.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alois T. Leiter sold 5,559 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $198.16, for a total value of $1,101,571.44. Following the transaction, the director now directly owns 165,596 shares in the company, valued at approximately $32,814,503.36. The disclosure for this sale can be found here. Insiders sold 116,259 shares of company stock worth $22,912,048 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westpac Banking Corp boosted its stake in The Ultimate Software Group by 88.2% during the third quarter. Westpac Banking Corp now owns 25,633 shares of the technology company’s stock worth $4,860,000 after buying an additional 12,012 shares during the last quarter. Principal Financial Group Inc. raised its position in The Ultimate Software Group by 2.2% in the second quarter. Principal Financial Group Inc. now owns 123,812 shares of the technology company’s stock valued at $26,008,000 after purchasing an additional 2,715 shares during the period. Alliancebernstein L.P. raised its position in The Ultimate Software Group by 3.8% in the second quarter. Alliancebernstein L.P. now owns 333,477 shares of the technology company’s stock valued at $70,050,000 after purchasing an additional 12,242 shares during the period. Bank of Nova Scotia purchased a new stake in The Ultimate Software Group in the second quarter valued at $1,884,000. Finally, BNP Paribas Arbitrage SA raised its position in The Ultimate Software Group by 71.4% in the second quarter. BNP Paribas Arbitrage SA now owns 11,207 shares of the technology company’s stock valued at $2,354,000 after purchasing an additional 4,668 shares during the period.
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.
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