The Ultimate Software Group’s (ULTI) “Hold” Rating Reiterated at Mizuho
Mizuho reiterated their hold rating on shares of The Ultimate Software Group (NASDAQ:ULTI) in a report released on Thursday morning. They currently have a $200.00 target price on the technology company’s stock.
“We met with Ultimate’s senior management and walked away more comfortable with its n-t business prospects. Management remains focused on executing on its current plan while enhancing its product portfolio to drive ASPs higher. On the competitive front, the environment remains unchanged with Ultimate continuing to acquire most of its customers from ADP, Paychex, and Ceridian.”,” the firm’s analyst commented.
ULTI has been the topic of several other reports. Stifel Nicolaus upped their price objective on shares of The Ultimate Software Group from $235.00 to $250.00 and gave the company a buy rating in a report on Thursday, November 2nd. Zacks Investment Research raised shares of The Ultimate Software Group from a sell rating to a hold rating in a research report on Wednesday, October 11th. Royal Bank of Canada reissued a buy rating and issued a $216.00 target price on shares of The Ultimate Software Group in a research report on Tuesday, October 10th. Canaccord Genuity boosted their target price on shares of The Ultimate Software Group from $225.00 to $240.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Finally, BidaskClub raised shares of The Ultimate Software Group from a sell rating to a hold rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $231.58.
The Ultimate Software Group (NASDAQ:ULTI) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.17. The Ultimate Software Group had a net margin of 3.31% and a return on equity of 6.84%. The firm had revenue of $236.11 million for the quarter, compared to the consensus estimate of $232.92 million. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. equities research analysts expect that The Ultimate Software Group will post 0.63 earnings per share for the current year.
In related news, CFO Mitchell K. Dauerman sold 15,480 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $196.00, for a total transaction of $3,034,080.00. Following the completion of the sale, the chief financial officer now owns 122,045 shares of the company’s stock, valued at $23,920,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Scott Scherr sold 43,537 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 426,427 shares of the company’s stock, valued at approximately $83,669,241.67. The disclosure for this sale can be found here. Insiders have sold 116,259 shares of company stock valued at $22,912,048 in the last ninety days. 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. Janus Henderson Group PLC lifted its position in The Ultimate Software Group by 819.9% during the second quarter. Janus Henderson Group PLC now owns 2,245,044 shares of the technology company’s stock worth $471,594,000 after purchasing an additional 2,000,984 shares during the period. FMR LLC lifted its position in The Ultimate Software Group by 4.9% during the second quarter. FMR LLC now owns 3,869,769 shares of the technology company’s stock worth $812,884,000 after purchasing an additional 180,698 shares during the period. Bamco Inc. NY lifted its position in The Ultimate Software Group by 32.6% during the third quarter. Bamco Inc. NY now owns 520,740 shares of the technology company’s stock worth $98,732,000 after purchasing an additional 128,099 shares during the period. Vanguard Group Inc. lifted its holdings in shares of The Ultimate Software Group by 3.2% in the second quarter. Vanguard Group Inc. now owns 2,300,574 shares of the technology company’s stock worth $483,258,000 after acquiring an additional 71,422 shares during the last quarter. Finally, Bain Capital Public Equity Management LLC bought a new position in shares of The Ultimate Software Group in the second quarter worth about $14,984,000.
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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.
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