Zacks Investment Research lowered shares of The Ultimate Software Group, Inc. (NASDAQ:ULTI) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “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. The solution is delivered through software-as-a-service (SaaS) to organizations based in the United States and Canada, including those with global workforces. The UltiPro solution includes feature sets for talent acquisition and onboarding, HR management and compliance, benefits management and online enrollment, payroll, performance management, compensation management with salary planning, budgeting, and development of incentive plans, succession management, reporting and analytical decision-making and predictive tools, and time and attendance. “

Several other analysts have also issued reports on the company. ValuEngine upgraded The Ultimate Software Group from a sell rating to a hold rating in a research note on Friday, September 1st. BidaskClub upgraded The Ultimate Software Group from a sell rating to a hold rating in a research note on Wednesday, August 23rd. KeyCorp set a $235.00 target price on The Ultimate Software Group and gave the company a buy rating in a research note on Wednesday, August 16th. Credit Suisse Group AG restated an outperform rating and issued a $245.00 target price (down from $260.00) on shares of The Ultimate Software Group in a research note on Monday, August 14th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $216.00 target price (down from $233.00) on shares of The Ultimate Software Group in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $235.29.

Shares of The Ultimate Software Group (NASDAQ ULTI) traded up 0.64% on Thursday, reaching $194.81. The company’s stock had a trading volume of 188,174 shares. The firm’s 50 day moving average is $191.98 and its 200-day moving average is $204.81. The stock has a market cap of $5.81 billion, a P/E ratio of 201.04 and a beta of 1.07. The Ultimate Software Group has a 52-week low of $180.29 and a 52-week high of $233.42.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.03). The firm had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a net margin of 3.47% and a return on equity of 7.20%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, equities research analysts forecast that The Ultimate Software Group will post $3.53 EPS for the current year.

WARNING: This report was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.watchlistnews.com/the-ultimate-software-group-inc-ulti-downgraded-by-zacks-investment-research-to-sell/1613865.html.

In other news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of the company’s stock in a transaction dated 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 directly owns 15,000 shares in the company, valued at approximately $3,005,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Manne sold 5,000 shares of the company’s stock in a transaction dated 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 $15,757,266.87. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in The Ultimate Software Group by 13,409.8% during the 1st quarter. BlackRock Inc. now owns 2,388,661 shares of the technology company’s stock valued at $466,292,000 after acquiring an additional 2,370,980 shares during the period. Janus Henderson Group PLC boosted its holdings in The Ultimate Software Group by 819.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock valued at $471,594,000 after acquiring an additional 2,000,984 shares during the period. Harbour Capital Advisors LLC boosted its holdings in The Ultimate Software Group by 20,578.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,126,972 shares of the technology company’s stock valued at $5,365,000 after acquiring an additional 1,121,522 shares during the period. FMR LLC boosted its holdings in The Ultimate Software Group by 4.9% during the 2nd quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock valued at $812,884,000 after acquiring an additional 180,698 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in The Ultimate Software Group by 196.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 219,266 shares of the technology company’s stock valued at $42,803,000 after acquiring an additional 145,372 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.

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

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