Citigroup reaffirmed their overweight rating on shares of The Ultimate Software Group (NASDAQ:ULTI) in a research report sent to investors on Wednesday. They currently have a $232.00 price target on the technology company’s stock.

ULTI has been the topic of several other research reports. Stifel Nicolaus boosted their target price on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded shares of The Ultimate Software Group from a sell rating to a hold rating in a research note on Wednesday, October 11th. Royal Bank of Canada restated a buy rating and set a $216.00 price objective on shares of The Ultimate Software Group in a research note on Tuesday, October 10th. Mizuho restated a hold rating and set a $200.00 price objective on shares of The Ultimate Software Group in a research note on Thursday, December 14th. Finally, BidaskClub upgraded shares of The Ultimate Software Group from a hold rating to a buy rating in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $243.90.

Shares of The Ultimate Software Group (NASDAQ:ULTI) opened at $228.87 on Wednesday. The firm has a market cap of $6,936.26, a P/E ratio of 476.81, a price-to-earnings-growth ratio of 8.61 and a beta of 1.07. The Ultimate Software Group has a 12-month low of $181.59 and a 12-month high of $242.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.18 and a current ratio of 1.18.

The Ultimate Software Group (NASDAQ:ULTI) last released its earnings results on Tuesday, February 6th. The technology company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.24. The company had revenue of $251.43 million for the quarter, compared to the consensus estimate of $244.83 million. The Ultimate Software Group had a net margin of 1.59% and a return on equity of 5.31%. The Ultimate Software Group’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. equities analysts expect that The Ultimate Software Group will post 1.32 earnings per share for the current year.

In related news, VP Robert Manne sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $228.85, for a total value of $1,144,250.00. Following the completion of the transaction, the vice president now directly owns 63,873 shares in the company, valued at approximately $14,617,336.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James A. Fitzpatrick, Jr. sold 4,230 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $228.63, for a total transaction of $967,104.90. Following the completion of the transaction, the director now owns 9,145 shares of the company’s stock, valued at $2,090,821.35. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of The Ultimate Software Group by 10.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,480,892 shares of the technology company’s stock valued at $470,377,000 after purchasing an additional 235,848 shares during the period. BlackRock Inc. lifted its stake in shares of The Ultimate Software Group by 0.7% in the 4th quarter. BlackRock Inc. now owns 2,379,320 shares of the technology company’s stock valued at $519,239,000 after purchasing an additional 15,810 shares during the period. Wells Fargo & Company MN lifted its stake in shares of The Ultimate Software Group by 2.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,206,051 shares of the technology company’s stock valued at $228,666,000 after purchasing an additional 31,945 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of The Ultimate Software Group by 4.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 885,221 shares of the technology company’s stock valued at $185,950,000 after purchasing an additional 33,692 shares during the period. Finally, State Street Corp lifted its stake in shares of The Ultimate Software Group by 1.5% in the 2nd quarter. State Street Corp now owns 756,678 shares of the technology company’s stock valued at $158,949,000 after purchasing an additional 11,076 shares during the period.

TRADEMARK VIOLATION NOTICE: This story was first posted by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.watchlistnews.com/the-ultimate-software-group-ulti-earns-overweight-rating-from-citigroup/1856933.html.

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)

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