The Ultimate Software Group, Inc. (NASDAQ:ULTI) has earned a consensus recommendation of “Buy” from the twenty-three research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $235.29.

A number of brokerages recently issued reports on ULTI. KeyCorp set a $235.00 price target on The Ultimate Software Group and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada lowered their price target on The Ultimate Software Group from $233.00 to $216.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. Canaccord Genuity lowered 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. Mizuho restated a “neutral” rating and issued a $200.00 price target (down from $220.00) on shares of The Ultimate Software Group in a research report on Tuesday, August 1st. Finally, Roth Capital raised their price target on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, July 31st.

Shares of The Ultimate Software Group (NASDAQ:ULTI) traded up 0.64% during midday trading on Friday, hitting $194.81. 188,174 shares of the stock were exchanged. The firm has a market cap of $5.81 billion, a PE ratio of 201.04 and a beta of 1.07. The firm’s 50-day moving average is $191.98 and its 200 day moving average is $204.81. 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 quarterly earnings results on Tuesday, August 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $224.70 million during the quarter, compared to the consensus estimate of $228.02 million. The Ultimate Software Group had a return on equity of 7.20% and a net margin of 3.47%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. On average, analysts forecast that The Ultimate Software Group will post $3.53 earnings per share for the current year.

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In other The Ultimate Software Group news, Director James A. Fitzpatrick, Jr. sold 4,613 shares of The Ultimate Software Group 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 transaction, the director now owns 15,000 shares in the company, valued at $3,005,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Manne sold 5,000 shares of The Ultimate Software Group stock in a transaction dated Thursday, August 3rd. The shares were 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 in the company, valued at approximately $15,757,266.87. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ULTI. Creative Planning grew its stake in The Ultimate Software Group by 257.4% in the second quarter. Creative Planning now owns 504 shares of the technology company’s stock valued at $106,000 after purchasing an additional 363 shares during the last quarter. Huntington National Bank grew its stake in The Ultimate Software Group by 24.7% in the second quarter. Huntington National Bank now owns 857 shares of the technology company’s stock valued at $180,000 after purchasing an additional 170 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in The Ultimate Software Group by 23.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 873 shares of the technology company’s stock valued at $183,000 after purchasing an additional 164 shares during the last quarter. FineMark National Bank & Trust purchased a new position in The Ultimate Software Group in the second quarter valued at about $200,000. Finally, ETRADE Capital Management LLC purchased a new position in The Ultimate Software Group in the second quarter valued at about $201,000.

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)

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