The Ultimate Software Group, Inc. (NASDAQ:ULTI) had its target price increased by analysts at Royal Bank Of Canada from $210.00 to $220.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 6.39% from the stock’s current price.

Other research analysts also recently issued reports about the company. Roth Capital lifted their target price on The Ultimate Software Group from $254.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and set a $235.00 target price on shares of The Ultimate Software Group in a research note on Friday, July 28th. KeyCorp set a $255.00 target price on The Ultimate Software Group and gave the stock a “buy” rating in a research note on Thursday, July 27th. Canaccord Genuity reduced their target price on The Ultimate Software Group from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Finally, Stephens reiterated an “equal weight” rating and set a $203.00 target price (down from $215.00) on shares of The Ultimate Software Group in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The Ultimate Software Group has a consensus rating of “Buy” and an average price target of $234.06.

Shares of The Ultimate Software Group (NASDAQ ULTI) traded up $3.66 during midday trading on Thursday, hitting $206.78. The stock had a trading volume of 551,464 shares, compared to its average volume of 289,555. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6,167.63, a P/E ratio of 196.93, a P/E/G ratio of 19.23 and a beta of 1.09.

The Ultimate Software Group (NASDAQ:ULTI) last issued its earnings results on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a return on equity of 6.84% and a net margin of 3.31%. The company had revenue of $236.11 million during the quarter, compared to the consensus estimate of $232.92 million. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. sell-side analysts forecast that The Ultimate Software Group will post 0.55 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its holdings in The Ultimate Software Group by 2.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 10,955 shares of the technology company’s stock valued at $2,077,000 after acquiring an additional 288 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in The Ultimate Software Group by 52.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,043 shares of the technology company’s stock valued at $1,904,000 after acquiring an additional 3,435 shares in the last quarter. Tygh Capital Management Inc. acquired a new position in The Ultimate Software Group in the 3rd quarter valued at $6,233,000. Stevens Capital Management LP acquired a new position in The Ultimate Software Group in the 3rd quarter valued at $3,419,000. Finally, Westpac Banking Corp raised its holdings in The Ultimate Software Group by 88.2% in the 3rd quarter. Westpac Banking Corp now owns 25,633 shares of the technology company’s stock valued at $4,860,000 after acquiring an additional 12,012 shares in the last quarter.

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)

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